SNDL Inc. acquires Indiva Group's business and assets for C$22.7M in the context of a reverse vesting order transaction under the Companies' Creditors Arrangement Act (Canada)
Date Closed
November 4, 2024
Lead Office
Toronto
Value
22.70 Million CAD
On November 4, 2024, SNDL Inc. ("SNDL") completed its C$22.7 million acquisition of Indiva Group's ("Indiva") business and assets in the context of a reverse vesting order transaction under the Companies' Creditors Arrangement Act (Canada). The transaction included a credit bid of all the indebtedness of Indiva owing to SNDL, the retention of select liabilities, and cash payments to cover priority indebtedness of Indiva and costs related to Indiva's CCAA proceedings, bringing the total consideration to approximately C$22.7 million.
SNDL, located in Calgary, Alberta, 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, Spiritleaf, and Firesale Cannabis.
Indiva, headquartered in London, Ontario, is a Canadian licensed producer of premium cannabis and cannabis products, mainly known for its specialization in the production of cannabis edibles.
McCarthy Tétrault advised SNDL with a team led by Ranjeev Dhillon (Mergers & Acquisitions, Cannabis) and Lance Williams that included Ashley Bowron (Bankruptcy/Restructuring), Vincent Yip, Jeff Sun (Intellectual Property), Jenna Clark, Adil Akbar (Business), Lucas Beatch (Financial Services), and Pedram Gholipour (Articling Student).