Sundial Growers’ C$346 Million Acquisition of Alcanna

McCarthy Tétrault advised Sundial Growers Inc. on the acquisition.

On October 7, 2021, Sundial Growers Inc. (Sundial Growers) has entered into an arrangement agreement with Alcanna Inc. (Alcanna) to acquire all of the issued and outstanding common shares of Alcanna by way of a statutory plan of arrangement for total consideration of approximately C$346 million. 

Sundial Growers Inc. is an Alberta-based licensed cannabis producer, that operates as a pharmaceutical company, and serves customers in Canada. 

Alcanna is Canada’s largest private liquor retailer, operating 171 locations predominantly in Alberta under its three retail brands. Alcanna’s strategic partner, in which it holds an approximately 63% equity interest, is Nova Cannabis Inc., a 62-store cannabis retailer. Sundial’s current retail network combined with Nova Cannabis Inc.’s store count implies that the combined company will be a Canadian cannabis retail market leader with more than 170 locations.

The McCarthy Tétrault team was led by Ranjeev Dhillon (Picture) and included Jessica Brown, Matthew Sanders, Maria Rooney, Ashley Wilson, Ivor Selimovic (M&A), Brett Anderson, Kathryn Walker, Matthew Kraemer (Tax), Conrad Lee (Privacy and IT), Vincent Yip (IP), Debbie Salzberger, Gideon Kwinter (Anti-Trust and Competition), Shana Wolch, Patrick Pengelly, Justin Turc, Simmy Sahdra, Danielle Douglas (Labour and Employment), Selina Lee-Andersen (Environmental), Mark Christensen (Real Property), Keith Guinn (Alcohol Regulatory), Deron Waldock, and Tracy Solhi (Benefits).

Involved fees earner: Brett Anderson – McCarthy Tétrault; Jessica Brown – McCarthy Tétrault; Mark Christensen – McCarthy Tétrault; Ranjeev Dhillon – McCarthy Tétrault; Danielle Douglas – McCarthy Tétrault; Keith Guinn – McCarthy Tétrault; Justin Turc – McCarthy Tétrault; Matthew Kraemer – McCarthy Tétrault; Gideon Kwinter – McCarthy Tétrault; Conrad Lee – McCarthy Tétrault; Selina Lee-Andersen – McCarthy Tétrault; Patrick Pengelly – McCarthy Tétrault; Maria Rooney – McCarthy Tétrault; Simmy Sahdra – McCarthy Tétrault; Debbie Salzberger – McCarthy Tétrault; Matthew Sanders – McCarthy Tétrault; Ivor Selimovic – McCarthy Tétrault; Tracy Solhi – McCarthy Tétrault; Deron Waldock – McCarthy Tétrault; Kathryn Walker – McCarthy Tétrault; Ashley Wilson – McCarthy Tétrault; Shana Wolch – McCarthy Tétrault; Vincent Yip – McCarthy Tétrault;

Law Firms: McCarthy Tétrault;

Clients: Sundial Growers Inc.;

Sonia Carcano

Author: Sonia Carcano