On the heels of a string of partnership deals, Tilray (TLRY) on Tuesday announced that it was acquiring Canada-based Natura Naturals Holdings Inc, a licensed cultivator of cannabis.
The deal gives Tilray Natura’s 662,000 square-foot greenhouse cultivation facility. Under the deal, Tilray would pay Natura CAD 15 million in cash and CAD 20 million in Tilray Class 2 common stock.
If Natura achieves certain milestones over the next year, the company would be entitled to up to another CAD 35 million of Tilray stock, lifting the total deal value to CAD 70 million.
The transaction is expected to be completed in a month’s time. TLRY shares fell over 5% on Tuesday.
Tilray has been on a consolidation spree lately and the deal with Natura marks the fourth in less than 40 days. Last week, the company had inked a $100-million partnership with brand management company Authentic Brands Group.
Under the long-term revenue-sharing agreement, both the parties would together develop and distribute weed-based consumer products in regions where regulators have shown a green flag. The products are likely to hit Canada and the US by next year.
Budweiser-parent mulls pot-based drinks, inks JV with Tilray
This agreement comes barely a month after AB InBev (BUD), the maker of Budweiser beer, inked a $100-million deal with Tilray to study the production and distribution of non-alcoholic drinks infused with cannabis components. The joint venture, in its initial phase, is focused only in Canada.
A couple of days before the deal with AB InBev, Tilray sealed another agreement with German company Sandoz, a subsidiary of Novartis (NVS). Under this agreement, the two companies would collaborate to make new medical marijuana products and co-brand some non-combustible products.
Follow our Google News edition to get the latest stock market, earnings, and financial news at your fingertips
Most Popular
Key highlights from Deere & Co.’s (DE) Q4 2024 earnings results
Deere & Company (NYSE: DE) reported its fourth quarter 2024 earnings results today. Worldwide net sales and revenues decreased 28% year-over-year to $11.14 billion. Net income was $1.24 billion, or
NVDA Earnings: Nvidia Q3 profit jumps, beats estimates
NVIDIA Corporation (NASDAQ: NVDA) on Wednesday reported a sharp increase in adjusted profit and revenue for the third quarter of 2025. Earnings also topped analysts' estimates. The tech firm’s revenues
Lowe’s Companies (LOW): A few points to note about the Q3 2024 performance
Shares of Lowe’s Companies, Inc. (NYSE: LOW) rose over 1% on Wednesday. The stock has gained 8% over the past three months. The company delivered better-than-expected earnings results for the