Aurora Cannabis buying Anandia Laboratories in all-stock $115M deal
Aurora has been gearing up in anticipation of the legalization of recreational marijuana in Canada
Aurora Cannabis Inc. has signed an agreement to buy Anandia Laboratories Inc. in an all-stock deal valued at $115 million.
Anandia provides research and development services as well as analytical testing for clients licensed under Canada's medical cannabis rules.
Aurora CEO Terry Booth says the deal expands his company's capabilities and will help accelerate product development.
The companies say that Anandia's cannabis testing services will remain operationally independent of Aurora.
Aurora has been gearing up in anticipation of the legalization of recreational marijuana in Canada expected later this year.
Last month, the company announced a $3.2-billion all-stock offer for rival licensed marijuana producer MedReleaf,the largest-ever deal in Canada's cannabis industry.