Aurora Cannabis announced today that it intends to acquire Anandia Laboratories in an all-share deal estimated at $115 million.
The Alberta-based company made headlines last month with a $3.2 billion all-stock offer of licensed cannabis producer MedReleaf, marking the largest deal in Canada’s cannabis industry.
- Canopy Growth funds professorship and research at UBC
- Cannabis sales expected to exceed $7 billion after legalization
This latest acquisition means accelerated growth for Vancouver-based Anandia, which provides industry-leading analytical testing services including potency, pesticides, microbes, and terpenes to Licensed Producers (LP) and patients. Anandia is also an innovator in plant breeding approaches to develop next-generation cannabis varieties.
“Partnering with Aurora, with their expanded financial resources, scientific expertise and multiple cultivation sites, will enable us to accelerate our current breeding efforts to create the next-generation of cannabis genetics. We are confident that joining forces will enable us to rapidly advance cannabis science for the benefit of consumers, patients, and growers, and further establish Aurora as the global leader in the cannabis industry,” Dr. Jonathan Page, Anandia’s co-founder and CEO, stated in a release today.
Anandia has a 12,700 sq. ft. head office, testing lab, R&D, and tissue culture facility in Vancouver, with plans for a 22,500 sq. ft. greenhouse and associated 10,000 sq. ft. laboratory building in Comox. Both are currently under construction with the option to expand to 100,000+ sq. ft.
“Our new Cannabis Innovation Centre provides the infrastructure needed to serve a rapidly growing cannabis market. Leveraging Aurora’s capabilities, we will be able to accelerate the completion date of our new centre,” Dr. Page stated. “Additionally, being integrated into Aurora’s international operations will enable us to rapidly broaden our reach beyond the domestic Canadian industry.”
Aurora has a diverse portfolio that includes Aurora Larssen Projects Inc. (ALPS), CanniMed, Therpaeutics Inc., Alcanna Inc., Radient Technologies, The Green Organic Dutchman (TGOD), and several others, with apparent plans to keep expanding.
Neil Belot, Chief Global Business Development Officer for Aurora, said, “the expansion of Anandia’s physical infrastructure combined with Aurora’s rapidly growing global footprint, creates a unique platform to pursue a wide variety of market opportunities. The Transaction will greatly boost our competitive advantage in developing marketable intellectual property and high-margin products, and help address diversified needs on a global basis.”
Anandia’s product testing services will remain operationally independent of Aurora, with a continued commitment to LPs and patient-growers.