SNDL Wins Bid For Indiva, Secures Major Deal To Boost Cannabis Edibles Market Share In Canada
SNDL Inc. (NASDAQ:SNDL) announced on Thursday that its stalking horse bid was chosen as the most successful bid for acquiring the Indiva Limited‘s (TSXV:NDVA) (OTCQX:NDVAF) business and assets.
That’s in the context of proceedings under Indiva’s filing under the Companies’ Creditors Arrangement Act and the sales and investment solicitation process. The transaction is subject to approval by the Ontario Superior Court of Justice overseeing the CCAA proceedings.
What Happened
The company’s acquisition includes Indiva’s state-of-the-art facility in London, Ontario as well as a portfolio of owned and licensed brands including Pearls by Grön, No Future, Wana, and Bhang Chocolate.
SNDL first announced in early July it plans to buy all of the issued and outstanding shares of Indiva and the business and assets of the Indiva Group, on …