Industry Update: Cannabis
VRC is proud to release its latest industry report. The report provides a concise, insightful update on the cannabis industry including recent transactions, market multiples, company performance and purchase price allocation percentages.
Industry Highlights
- On March 9, 2021, Curaleaf Holdings, Inc., a leading U.S. provider of
consumer products in cannabis, announced that it has signed a definitive
agreement to acquire EMMAC Life Sciences Limited, the largest vertically
integrated independent cannabis company in Europe for base
consideration of approximately US$286 million to be paid 85% in Curaleaf
subordinate voting shares and 15% in cash. Contingent consideration of up
to US$57 million will be paid in Curaleaf subordinate voting shares and
cash in the same ratio based upon the successful achievement of
performance milestones. - On January 25, 2021, Harvest Health & Recreation Inc., a vertically integrated cannabis company and multi-state operator in the U.S., announced the closing of a sale leaseback transaction with Innovative Industrial Properties, Inc. Harvest sold an industrial property totaling approximately 292,000 square feet for $23.8 million.
