SNDL Closes On Acquisition Of Indiva Via CCAA Proceedings, Pays $22.7 Million
SNDL (NASDAQ: SNDL) is expected to now be the leading cannabis edible producer in Canada, following its acquisition of Indiva Limited through CCAA proceedings. The acquisition follows SNDL serving as the stalking horse bid under those creditor protection proceedings.
SNDL is said to have paid total consideration of $22.7 million for Indiva’s assets, with the consideration said to include all the indebtedness of Indiva that was owing to SNDL, as well as the retention of certain liabilities and the payment of certain debts held by the company. The costs are also said to include some of those associated with the CCAA proceedings.
READ: SNDL Expected To Close On Assets Of Indiva Following Stalking Horse Bid
Post-acquisition, SNDL now owns Indiva’s production facility in London, Ontario, which is 40,000 square feet in size, as well as its brand portfolio, which consists of seven brands, including Bhang Chocolate and Pearls by Gron, as well as 53 SKU’s.
SNDL last traded at $2.16 on the Nasdaq.
Information for this briefing was found via Sedar and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
