Aurora Acquires Anandia Labs for $115M
Jun 13, 2018 | Original story from Anandia Labs
Anandia Laboratories has announced that it will be wholly acquired by Aurora Cannabis for approximately $115 million.
Dr. Jonathan Page, Anandia's co-founder and CEO, stated, "Anandia has amassed an extensive library of cannabis genetics coupled with in-depth genomic and chemical analysis. Partnering with Aurora, with their expanded financial resources, scientific expertise and multiple cultivation sites, will enable us to accelerate our current breeding efforts to create the next-generation of cannabis genetics. Both Anandia and Aurora are strong believers in research and science-based solutions. We are confident that joining forces will enable us to rapidly advance cannabis science for the benefit of consumers, patients and growers, and further establish Aurora as the global leader in the cannabis industry."
Dr. John Coleman, Anandia's co-founder and COO, stated, "It is the combination of strong science and client focus that has made Anandia a cannabis testing leader. We intend to continue supporting all of our clients. Anandia's testing business will remain operationally independent, and we will be taking steps in the coming weeks to ensure that our independence is clear to our stakeholders. We hold all client information private and confidential and will continue to do so. In the meantime, we are expanding our capacity to service the anticipated increase in sample volume associated with legalization through our new 12,700 sq.ft. corporate head office, testing and product development laboratory in Vancouver."
Anandia is also constructing a unique, purpose-built Cannabis Innovation Centre on Vancouver Island. The 22,500 square foot greenhouse facility designed by Aurora Larssen Projects Inc. and associated 10,000 square foot laboratory will house Anandia's cannabis breeding and genetics program. This strategic site, located close to a major airport in Comox BC, has the option to expand to 100,000+ square feet.
Dr. Page concluded, "Our new Cannabis Innovation Centre provides the infrastructure needed to serve a rapidly growing cannabis market. Leveraging Aurora's capabilities, we will be able to accelerate the completion date of our new centre. Additionally, being integrated into Aurora's international operations will enable us to rapidly broaden our reach beyond the domestic Canadian industry."
The closing of the Acquisition is subject to customary closing conditions, including execution of definitive documentation, completion of satisfactory due diligence, and receipt of applicable shareholder, third party and regulatory approvals, including that of the Supreme Court of British Columbia and the satisfaction of other conditions customary in transactions of this nature. The parties anticipate closing the Acquisition in the coming weeks.