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.
- On November 2, 2020, Emerald Health Therapeutics, Inc. announced that it has completed the sale of Pre Sunfarms to Village Farms International,
Inc. for approximately $61 million. Village Farms conceived of a joint venture to launch its Canadian cannabis business, and the result, Pure Sunfarms, is now one of the leading Canadian cannabis companies.
- On November 12, 2020, Trulieve Cannabis Corp., a leading and top-performing cannabis company in the United States, announced the closing of the acquisition of all of the issued and outstanding equity interests of cultivator and producer PurePenn LLC and Pioneer Leasing & Consulting LLC and dispensary operator Keystone Relief Centers LLC. The total consideration for both acquisitions was approximately $141 million.
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