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 July 31, 2023, Cresco Labs and Columbia Care announced a mutual agreement to amicably terminate the definitive arrangement agreement pursuant to which Cresco agreed to acquire all of the issued and outstanding shares of Columbia Care.
• On June 22, 2023, Tilray completed the previously announced acquisition of Hexo Corp. In April 2022, Tilray and Hexo inked a “strategic alliance” that saw Tilray acquire Hexo debt in exchange for the right to buy Hexo shares. The subsequent acquisition deal was announced a year later, for an aggregate purchase price of roughly $56 million.

Past Industry Updates

Cannabis: June 2023

Cannabis: November 2022