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As Business Booms, Companies Race To Merge

Mergers are making it possible for fledgling cannabis companies to consolidate market share

Recent mergers in the rapidly growing legal weed industry are making it possible for fledgling cannabis companies to consolidate market share as new jurisdictions adopt legal pot.

“We see a great deal of urgency to move very, very quickly,” said Cam Battley, the chief operating officer of the Canadian medical marijuana company Aurora. “This is a brand new industry on a world scale and it’s important to gain that leadership position as quickly as possible.”

Aurora announced Tuesday it had acquired the hemp-based foods company Hempco a day after its $2.3 billion merger with another medical marijuana company, MedReleaf. The combined company has 11 production facilities churning out 570,000 kilograms, or 1.25 million pounds, of marijuana per year in Canada, Germany, Denmark, and Australia.

 

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