Bulletin
Investor Alert

New York Markets Open in:

Market Pulse Archives

Aug. 25, 2022, 11:33 a.m. EDT

Aurora Cannabis buying Canadian greenhouse company Bevo Agtech

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Aurora Cannabis Inc. (ACB)
  • X
    Aurora Cannabis Inc. (ACB)
  • X
    Cannabis ETF (THCX)

or Cancel Already have a watchlist? Log In

By Steve Gelsi

Aurora Cannabis Inc. /zigman2/quotes/210559470/composite ACB -6.61% /zigman2/quotes/203734337/delayed CA:ACB -6.71% said Thursday it agreed to acquire a controlling 50.1% interest in Bevo Agech Inc., the parent of Bevo Farms Ltd., operator of 63 acres of greenhouse facilities in British Columbia with revenue of C$39 million ($30.2 million) in the 12 months ending June 30. The deal includes a C$45 million payment upon closing, plus C$12 million in milestone payments for three years. Bevo also agreed to pay Aurora C$25 million over time for Aurora's Aurora Sky greenhouse facility in Edmonton, Alberta, to grow orchids and vegetables. Aurora has invested C$250 million in the facility, MJBiz reported in May. Lazard Canada Inc. was exclusive financial adviser to Aurora while Agentis Capital Advisors advised Bevo. Shares of Aurora fell 1.9% on Thursday. The stock is down 71.7% in 2022 compared to a loss of 55.3% by the Cannabis ETF /zigman2/quotes/213173823/composite THCX -6.41% .

/zigman2/quotes/210559470/composite
US : U.S.: Nasdaq
$ 1.13
-0.08 -6.61%
Volume: 11.73M
Dec. 7, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$314.31 million
Rev. per Employee
$123,259
loading...
/zigman2/quotes/203734337/delayed
CA : Canada: Toronto
$ 1.53
-0.11 -6.71%
Volume: 3.82M
Dec. 7, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$428.98 million
Rev. per Employee
$157,323
loading...
/zigman2/quotes/213173823/composite
US : U.S.: NYSE Arca
$ 2.92
-0.20 -6.41%
Volume: 55,264
Dec. 7, 2022 4:00p
loading...

Get news alerts on Aurora Cannabis Inc. — or create your own.
This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.