CALGARY, Alberta, July
16, 2024 – PRESS RELEASE – SNDL Inc., the largest
private-sector liquor and cannabis retailer in Canada, announced a
restructuring project aimed at reducing corporate overheads and improving the
efficiency of its organizational structure to position the company for future
growth.
The
project is expected to deliver over $20 million in annualized cost savings
driven primarily by the optimization of corporate overhead spending, including
the reduction of 106 full-time employees. The restructuring will require a
one-time investment of $11 million over the next 18 months.
As
part of these operational adjustments, SNDL is consolidating its cannabis
segments into a single unit under the leadership of Tyler Robson. This
consolidation is intended to enhance efficiency, improve alignment and improve
process speed within SNDL’s vertical model.
"This
restructuring project and segment consolidation are critical steps in our
journey towards better capital deployment, improved agility, focus and
profitability, and will free up resources to invest in profitable growth
opportunities," SNDL CEO Zachary George said. "We are committed to
enhancing our organizational effectiveness by streamlining processes while
leveraging technology and automation."
SNDL
expects to achieve most of the anticipated annualized savings by mid-2025,
while starting to capture some of the opportunities as early as Q3 2024.
