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Cannabis Deals Reach $8 billion Before Canadian Legalization

Dealmaking has become the new norm

Marijuana has fuelled about $8 billion of deals in Canada this year, with Canopy Growth Corp. and Aurora Cannabis Inc. among the most active.

Canadian cannabis companies have been involved in at least 97 announced acquisitions and investments with a combined value of $8.06 billion this year, according to data compiled by Bloomberg. That surpassed activity for all of 2017, which saw 31 deals valued at about $1.16 billion, and the $361 million from 27 deals in 2016. In 2015 there were six pot deals worth $72 million.

Dealmaking has picked up as Canada legalizes marijuana for recreational use on 17 October. Many analysts expect it to accelerate further as a handful of stronger companies emerge from the stock-listing frenzy over the past few years.

 

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