SNDL Takes Bite Out of Canadian Cannabis Market. Emerges as Leading Producer of Edibles Upon Closing of Indiva Acquisition

PRISM Cannabis Index company SNDL Inc. (SNDL) announced today that it has successfully completed its acquisition of Indiva Limited as part of the ongoing Companies’ Creditors Arrangement Act (“CCAA”) proceedings. The acquisition, approved through a reverse vesting order by the Ontario Superior Court of Justice was achieved through a credit bid. The estimated value of the consideration is $22.7M.

The Indiva acquisition provides SNDL with an additional seven brands and 53 SKUs. This diverse brand portfolio features names such as Pearls by Grön, No Future, and Bhang Chocolate. It also includes a 40,000 square foot London, Ontario production facility.  Indiva is a recognized leader in cannabis edibles, and this transaction is set to enhance SNDL’s ability to meet the evolving demands of consumers across Canada.

“This acquisition strengthens SNDL’s position as a top cannabis producer in Canada,” stated Zach George, Chief Executive Officer of SNDL. “Adding Indiva’s high-quality brands and production capabilities will expand our product range and further establish our leadership in the infused edibles market.”