Aurora has been snatching up firms—including two deals announced the same day last week, and a hostile takeover bid launched a day later—in an effort to become a fully integrated, “globally dominant” player in production and retail.
Amid analyst predictions that consolidation in the Canadian cannabis sector will leave production in the hands of a few large players, Edmonton-based Aurora is in growth mode, having amassed an estimated $340 million in cash from investors.
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While Senior Executive Cam Battley said his company is “unabashedly” pursuing its quest for dominance, the executive vice-president said he believes there will be room for companies of all sizes, including smaller, craft-style growers.
“We’re not snapping up everybody,” he said.
New data shows consolidation in the cannabis sector is heating up. As of Friday, private and publicly traded marijuana companies in Canada have been involved in 75 mergers and acquisitions so far this year, compared to 33 in all of 2016, according to the New York-based cannabis advisory firm Viridian Capital Advisors.
