HEXO Corp Acquires Redecan to Create Canadian Adult-Use Market Leader
May 28, 2021
HEXO Corp agreed to acquire all outstanding shares of Redecan for a total purchase price of $925 million payable in cash and HEXO common shares. The deal combines HEXO's national footprint and international reach with Redecan's efficient greenhouse production, strong pre-roll technology and leading market share in key Canadian provinces to create a market leader in Canadian adult-use cannabis.
- Buyers
- HEXO Corp
- Targets
- Redecan
- Sellers
- Redecan shareholders (including co-founders Pete Montour, Will Montour and Richard Redekop)
- Industry
- Consumer Products
- Location
- Ontario, Canada
- Transaction Type
- Buyout
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