‘Consolidate, or get left behind’: Aleafia scoops up Emblem in first significant cannabis merger since legalization
By Vanmala Subramaniam – Financial Post
Deal creates the largest network of medical cannabis clinics across Canada, companies say.
In the first significant sign of consolidation in the Canadian cannabis sector post-legalization, Aleafia Health Inc. announced Wednesday that it will be scooping up Emblem Corp. in an all-stock deal worth $173 million that both companies claim will create the largest network of medical cannabis clinics across Canada.
“We were looking to buy a business that had high margin products, was medically focused and that was producing today. Emblem stood out,” Aleafia CEO Geoffrey Benic told the Financial Post.