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SNDL Inc. acquires remaining 34.8% stake in Nova Cannabis Inc. for C$40M


Date

October 21, 2024

Office Involved

Value

40 Million CAD

On October 21, 2024, SNDL Inc. ("SNDL") closed its previously announced deal with Nova Cannabis Inc. ("Nova")  to acquire the remaining 34.8% interest of Nova for aggregate consideration of approximately C$40 million.

SNDL, located in Calgary, Alberta, is the largest private sector liquor and cannabis retailer in Canada with retail banners that include Ace Liquor, Wine and Beyond, Liquor Depot, Value Buds, Spiritleaf, and Firesale Cannabis.

Nova, headquartered in Edmonton, Alberta, is one of Canada's largest cannabis retailers offering a wide variety of products in 96 locations across Alberta, Ontario and Saskatchewan. 

McCarthy Tétrault advised SNDL with a team led by Ranjeev Dhillon and Rami Chalabi that included Matthew Sanders, Ivor Selimovic, Adil Akbar, Husoni Raymond (Business), Matt Kraemer, Adam Unick (Tax), and Lyndsey Delamont (Litigation).

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