Currently, ornamental plants, flowers and herbs are growing in the three growing facilities of UK-based Bridge Farm. The company nowadays is 1.5 million square feet and plans to expand to 3.5 million square feet by the end of 2021. By then new crops are to be grown in the farm as well. In response to the growing global demand for health and wellness products, Canadian MMJ grower Sundial Growers Inc. has acquired Bridge Farm with plans to produce and sell high-quality CBD products globally.
Using a phased approach, and subject to necessary regulatory approvals, Sundial intends to use parts of these facilities to cultivate hemp and cannabis. The Bridge Farm acquisition will establish Sundial's presence in Europe and represents an important milestone for its international expansion.
Bridge Farm Group
Bridge Farm Group consists of three facilities; Bridge Farm, Zyon, and Neame Lea. Together, they sell more than 80 million units per year to retailers and consumers across the globe; it is known and highly regarded as a grower, packer and supplier of plants, flowers and produce. Over the years, they have scooped several awards and last week, they could add some more to their collection; FPC Supermarket Floral and Plant Supplier of the Year 2019 accolade and the Protected Ornamentals Grower of the Year, along with High-Growth Business of the Year at the Horticulture Week Business Awards evening.
"This is a significant acquisition for Sundial, taking us one step closer to our goal of being one of the leading cannabis companies in the world," said Torsten Kuenzlen, Chief Executive Officer of Sundial. "We recognize that expedient global expansion requires a combination of organic growth and strategic acquisitions. Bridge Farm's experienced management team, strong market position and operational excellence made it an ideal acquisition."
Sundial will now have two operational geographic regions: a business focused on premium inhalable products in Canada and a low-cost producer-at-scale in the United Kingdom. This positions Sundial more holistically as a company that proudly crafts pioneering cannabis brands to Heal Help and PlayTM.
"I am excited and confident that Sundial will continue to improve the operational excellence and the quality of the products grown in the Bridge Farm facilities," said David Ball, Sundial's President, Europe. "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."
In conjunction with the Bridge Farm acquisition and evolved corporate structure with two geographic regions, Sundial is promoting Andrew Stordeur to President of its Canadian operations. Andrew joined Sundial in 2018 as Chief Commercial Officer, after previously working for Molson Coors as Chief Commercial Officer for Canada.
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