On August 25, 2022, Aurora Cannabis Inc., a Canadian cannabinoid company, announced its acquisition of a controlling interest in Bevo Agtech Inc., parent company to Bevo Farms Ltd., one of North America's prominent suppliers of propagated vegetables and plants. Concurrently, Bevo sealed a deal to purchase Aurora's Aurora Sky facility in Edmonton, Alberta. Aurora’s subsidiary acquired 50.1% of Bevo's shares, attaining a controlling stake in Bevo's board. Bevo’s management, holding significant shares, will remain integral, planning to use the Aurora Sky facility for orchid and vegetable cultivation. Established in 1986, Bevo, with a 63-acre greenhouse in British Columbia, achieved CAN$54 million (US$39 million) in revenue and an Adjusted EBITDA of CAN$12 million (US$9 million) as of June 30, 2022. Miguel Martin, Aurora's CEO, emphasized Bevo's strategic alignment with Aurora's vision and potential synergies. Leo Benne, Bevo's CEO, recognized the alliance as a growth accelerator. The transaction is aligned with Aurora’s profitability targets, with Bevo demonstrating over a decade of growing Adjusted EBITDA. Aurora’s subsidiary paid approximately CAN$62 million (US$45 million) upfront, with potential additional payments up to CAN$16 million (US$12 million) over three years based on Bevo's achievements. Conversely, up to CAN$34 million (US$25 million) might be payable by Bevo to Aurora, contingent on certain benchmarks at the Aurora Sky Facility. Lazard Canada Inc. and Stikeman Elliott LLP advised Aurora, while Agentis Capital Advisors and Fasken Martineau DuMoulin LLP advised Bevo.