HIGHLIGHTS
- Alberta-based Sundial buys U.K.-based Bridge Farm Group
- Bridge Farm Group growing area to expand to 3.5 million square feet by end-2021
- Acquisition positions Sundial to enter European CBD market
Sundial Growers Inc., the biggest privately held licensed cannabis producer in Canada, said on Friday it bought a U.K.-based plant grower through which it will expand into Europe’s CBD market.
Sundial bought Bridge Farm Group, an ornamental plant, flower and herb producer with 1.5 million square feet of growing facilities and plans to expand to 3.5 million square feet by end-2021. The price was not disclosed.
The acquisition nearly doubles the rapidly growing licensed producer’s (LP) employee base to roughly 1,250 during peak season. The Alberta-based company, which so far sells two different dried cannabis products in the Western province, plans to grow and sell high-quality CBD from operations in the United Kingdom.
Later this year, the company aims to expand its dried cannabis product offerings to Ontario, Canada’s biggest consumer market, and Saskatchewan.
Subject to regulatory approvals, the LP aims to use parts of Bridge Farm’s facilities to grow hemp and cannabis, with the acquisition to establish Sundial’s presence in Europe, the company said.
"There is a local, European and global demand for CBD and other cannabis products, which we are well positioned to supply. Sundial is poised to become a leader in the ‘Help’ sector,” said David Ball, Sundial’s President, Europe.
“Help” is one-third of the “Heal Help and Play” outcomes that Sundial says about its cannabis products.
Britain’s Sky News reported that the deal “would be among the largest cannabis-related corporate transactions involving a UK-based company.”.