Aurora Cannabis Inc.
has reached a deal to buy Thrive Cannabis’ parent company, TerraFarma Inc., seeking to strengthen its business in market and expand focus on premium products.
Under the terms of the deal, Thrive’s team would head Aurora’s Canadian recreational portfolio.
The deal, which is expected to close in the fourth quarter, includes two earnout amounts payable in Aurora shares or cash, at the election of Aurora, based on Thrive achieving certain revenue targets within two years of closing.
Thrive’s flagship recreational brand is Greybeard Cannabis Co. It also includes Being Cannabis, a wellness-oriented brand.