HEXO Corp Acquires 48North Cannabis Corp.

May 17, 2021

HEXO Corp. agreed to acquire all outstanding common shares of 48North Cannabis Corp. in an all‑share plan of arrangement valued at approximately $50 million on an enterprise value basis. The deal is intended to strengthen HEXO’s position in the Canadian adult‑use market, diversify its product portfolio (including topicals and other CPG formats) and realize up to ~$12 million of annual synergies within one year of closing.

Buyers
HEXO Corp.
Targets
48North Cannabis Corp.
Location
Ontario, Canada
Transaction Type
Buyout

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