On August 29, 2024, SNDL Inc. (Nasdaq: SNDL) successfully secured its position as the winning bidder in the acquisition of Indiva Limited’s business and assets during Indiva's Companies' Creditors Arrangement Act (CCAA) proceedings. The transaction, pending approval by the Ontario Superior Court of Justice (Commercial List), involves SNDL acquiring Indiva's advanced production facility in London, Ontario, along with its portfolio of leading cannabis edibles brands, including Pearls by Grön, No Future, Wana, and Bhang Chocolate. This acquisition is poised to bolster SNDL's presence in the Canadian cannabis market, particularly in the edibles category, by enhancing its product offerings and improving capacity utilization.

Indiva, a prominent producer of cannabis edibles in Canada, operates a 40,000 square foot production facility in London, Ontario, where it manufactures products under seven brands with 53 listed SKUs. The transaction, expected to close during SNDL’s fourth quarter of 2024, is contingent upon court approval and other regulatory consents.

McCarthy Tétrault LLP represented SNDL, Bennett Jones LLP advised the Indiva Group, and Osler Hoskin & Harcourt LLP acted as counsel for the Monitor.