4 pot companies merge, will focus on bundled services [MSN Money]
Constellation Brands, Inc. (STZ)
Last constellation brands, inc. earnings: 4/3 07:30 am
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Source: MSN Money
The burgeoning cannabis industry, rife with mergers these days, is adding another to the list. Four businesses agreed to join forces as TILT Holdings Inc., which will have a market capitalization of more than $500 million and plans to trade on the Canadian Securities Exchange, the company said Tuesday. The merger focuses on bundling services -- from software to development of indoor cultivation, rather than amassing marijuana volume, according to Chief Executive Officer Alex Coleman. Pot M&A is front of mind for many after Aurora Cannabis Inc. agreed to buy Canadian rival MedReleaf Corp. Monday in the largest pot deal to date. The combined producer will have the capacity to grow 570,000 kilos (1.26 million pounds) of marijuana a year across two countries. “I would argue there should be more attention paid to how the consumer is going to purchase it and what they’re going to consume,” Coleman said when discussing recent industry deals. TILT is taking a distinct path. Roll
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- 4/11/24 - Beat
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- 4/19/24 - Form 144
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