Sundial Growers (SNDL)completes C$346M acquisition of Alcanna
March 31, 2022
346.00 Million CAD
On March 31, 2022, Sundial Growers Inc. ("Sundial") completed its previously announced agreement with Alcanna Inc. ("Alcanna") to acquire all of the issued and outstanding common shares of Alcanna by way of a statutory plan of arrangement for total consideration of approximately C$346 million. With the acquisition of Alcanna, Sundial has become Canada's largest private sector liquor retailer, operating 171 locations predominantly in Alberta under its three retail banners "Wine and Beyond", "Liquor Depot" and "Ace Liquor".
Sundial is an Alberta-based licensed cannabis producer that operates as a pharmaceutical company and serves customers in Canada.
Alcanna is Canada’s largest private liquor retailer, operating 171 locations predominantly in Alberta under its three retail brands. Alcanna’s strategic partner, in which it holds an approximately 63% equity interest, is Nova Cannabis Inc., a 62-store cannabis retailer.
McCarthy Tétrault advised Sundial with a team led by Ranjeev Dhillon, Matthew Sanders, and Rami Chalabi that included Maria Rooney, Ashley Wilson, Ivor Selimovic (M&A), Brett Anderson, Kathryn Walker, Matthew Kraemer (Tax), Conrad Lee (Privacy and IT), Vincent Yip (IP), Debbie Salzberger, Gideon Kwinter (Anti-Trust and Competition), Shana Wolch, Patrick Pengelly, Justin Turc, Simmy Sahdra, Danielle Douglas (Labour and Employment), Selina Lee-Andersen (Environmental), Mark Christensen (Real Property), Keith Guinn (Alcohol Regulatory), Deron Waldock, and Tracy Solhi (Benefits).