New fusion in the production of cannabis in Canada

TORONTO (Reuters) – The canadian producer of cannabis Aphria has announced on Monday the acquisition of its competitor Nuuvera to 826 million canadian dollars (542 million euros) in a sector that is full of excitement with the propagation of the permissions of consumption for medical use, or recreational, throughout the world.

Aphria has already put hand on January 15, on Broken Coast Cannabis to 185 million (€136 million).

Last Wednesday, Aurora Cannabis has announced the repurchase of CanniMed Therapeutics for $ 1.1 billion canadian dollars, creating the new global leader of the sector in terms of market capitalization.

The aggregate value of mergers and acquisitions in the sector of the production of cannabis has already reached 1,87 billion dollars since the beginning of the year, three times more than in the whole of 2017, which was already a record year, according to data from Thomson Reuters.

Canada allows the consumption of cannabis for medicinal use since 2001, and it will legalize the consumption to recreational use by the middle of the year.

(Nichola Saminather, with Anirban Paul in Bangalore; Bertrand Boucey for French service, edited by Véronique Tison)