Cannabis seedlings at the Aurora Cannabis facility in Montreal. The company announced a deal to buy Safari Flower on Wednesday.Ryan Remiorz/The Canadian Press
Aurora Cannabis Inc. ACB-T has bought Safari Flower Co. in a stock-and-cash deal valued at $26.5-million.
The acquisition includes a $2-million cash payment that is contingent on satisfaction of certain conditions.
Aurora says Safari Flower has an EU GMP certified indoor cultivation and manufacturing facility in Ontario.
It says the deal that will increase its capacity to supply key international markets, including Germany, Australia, Poland, and the United Kingdom, and support further market expansion.
Aurora executive chair and chief executive Miguel Martin says the acquisition of Safari Flower marks an important milestone as the company looks to grow its international medical cannabis business.
Martin says an enhanced supply chain will enable it to capture greater international market share while delivering superior quality and value to patients.