SNDL Inc. announced today that, in the context of proceedings under Indiva Limited's filing under the Companies Creditors Arrangement Act (Canada) and the sales and investment solicitation process, the stalking horse bid of SNDL has been chosen as the successful bid in the acquisition of the Indiva business and assets subject to approval by the Ontario Superior Court of Justice overseeing the CCAA proceedings.
SNDL's acquisition includes Indiva's facility in London, Ontario, and a portfolio of owned and licensed brands.
"We are thrilled by the opportunity to partner with our colleagues at Indiva to deliver high-quality products and brands to consumers," said Zach George, SNDL's Chief Executive Officer. "This transaction will materially improve our market share in the edibles category and is expected to unlock value through improved capacity utilization, a reduction in aggregate corporate expenses, and the potential sale of redundant real estate holdings."
Indiva is a producer of cannabis edibles in Canada and produces award-winning products across a wide range of brands, with a portfolio of 7 brands and 53 listed SKUs, all manufactured in the Company's 40,000 square foot production facility on Hargrieve Road in south London, Ontario.
Indiva will seek approval for the Transaction from the Court on or about September 19, 2024.
For more information:
SNDL Inc.
www.sndl.com