SNDL Inc., a leading cannabis company in Canada, has announced its successful bid for the acquisition of Indiva Limited’s business and assets. The transaction, subject to approval by the Ontario Superior Court of Justice, is expected to enhance SNDL’s product offerings and strengthen its position in the Canadian cannabis market.

The acquisition includes Indiva’s state-of-the-art facility in London, Ontario, as well as a portfolio of owned and licensed brands such as Pearls by Grön, Disagree While, Wana, and Bhang Chocolate. SNDL’s CEO, Zach George, expressed excitement about the partnership with Indiva, stating that it will allow the company to deliver high-quality products to consumers and increase market share in the edibles category.

Indiva, known for its award-winning cannabis edibles, operates a 40,000 square foot production facility in London, Ontario, where it manufactures a variety of brands and products. The company will seek approval for the transaction from the Court in September 2024, with completion expected in SNDL’s fourth quarter pending regulatory approvals.

McCarthy Tétrault LLP, Bennett Jones LLP, and Osler Hoskin & Harcourt LLP are serving as legal advisors for SNDL, Indiva, and the Court, respectively.

SNDL Inc. is a publicly traded company on the Nasdaq under the symbol “SNDL.” It is the largest private-sector liquor and cannabis retailer in Canada, with a diverse portfolio of retail banners and cannabis brands. SNDL’s investment portfolio focuses on strategic investments and partnerships in the North American cannabis industry.

In conclusion, the acquisition of Indiva by SNDL is a strategic move that is expected to enhance SNDL’s market position and product offerings in the Canadian cannabis market. The transaction underscores SNDL’s commitment to growth and innovation in the industry.