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Cannabis producer HEXO Corp. is acquiring Redecan, Canada’s largest privately-owned licensed cannabis producer with a hefty portfolio of brands, in a $925 million cash-and-share deal.
The proposed transaction is intended to create a more competitive platform in Canada that is positioned for further expansion into the United States, said Sebastien St-Louis, chief executive and co-founder of publicly traded HEXO.
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It would combine Ottawa-based HEXO, a dominant player in Quebec, with a product-dominant player in some of the largest markets in other parts of the country including British Columbia, Alberta and Ontario, St-Louis said in an interview.
Winnipeg Free Press By: Tara Deschamps, The Canadian Press Posted:
Last Modified: 9:56 AM CDT Friday, May. 28, 2021 Save to Read Later
Hexo Corp. will buy cannabis producer Redecan in a $925-million deal as the pot company continues its hunt for market share.
Cannabis plants are seen during a tour of a Hexo Corp. production facility, Thursday, October 11, 2018 in Masson Angers, Que. Hexo Corp. will buy cannabis producer Redecan in a $925 million deal comprised of cash and shares. THE CANADIAN PRESS/Adrian Wyld
Hexo Corp. will buy cannabis producer Redecan in a $925-million deal as the pot company continues its hunt for market share.