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SNDL acquires Zenabis Business

Date Closed

October 31, 2022

Lead Office


On October 31, 2022, SNDL Inc. ("SNDL") successfully closed its acquisition of the Zenabis Business. As a result of the transaction, SNDL will acquire an indoor cultivation facility with considerable capabilities and proven outcomes, significant monetizable cannabis inventory, and valuable non-core real estate assets.

SNDL 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, and Spiritleaf. SNDL is a licensed cannabis producer that uses state-of-the-art indoor facilities to supply wholesale and retail customers under a cannabis brand portfolio that includes Top Leaf, Sundial Cannabis, Palmetto, Spiritleaf Selects, and Grasslands. SNDL's investment portfolio seeks to deploy strategic capital through direct and indirect investments and partnerships throughout the global cannabis industry.

McCarthy Tétrault advised SNDL with a team co-led by Ranjeev Dhillon (Corporate), Jocelyn Perreault and Gabriel Faure (Restructuring) that included Matthew Sanders, Charles-Étienne Presse, Gurvir Sangha, Adil Akbar (Corporate), Jamey Gage, François Alexandre Toupin, Saneea Tanvir (Restructuring), Vincent Yip (IP), Patrick McCay, Matthew Kraemer, Stephanie Dewey (Tax), Debbie Salzberger, and Gideon Kwinter (Competition).