Tuesday, February 23, 2021 5:16:55 PM
Creating the largest global cannabis company by revenue
Aphria and Tilray’s complementary, scalable medical and adult-use cannabis businesses are expected to strengthen the combined company’s leadership position in Canada.
The business combination is expected to expand Aphria’s and Tilray’s U.S. and international reach through state-of-the-art cultivation and manufacturing facilities, a diversified product portfolio and its distribution footprint and robust supply chain.
The business combination is expected to provide operational efficiencies that are anticipated to generate approximately C$100 million (US$78 million) of annual pre-tax annual cost synergies within 24 months of the completion of the business combination.
APHRIA INC.
aphria inc.
Bingo
Ptite Pof
Good Supply
Solei
RIFF
Broken Coast
Sweet Water
420 Strain Bones
420 EPA
TILRAY, INC.
Tilray
High Park
Manitoba Harvest
Everie
Chowie Wowie
Marley Natural
The Batch
Canaca
DuBon
Grail
Pollen
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APHRIA + TILRAY
A Message from the CEOs
Irwin D. Simon
“This is an exciting day for both companies including our 2,500 employees, for the cannabis industry, and for patients and consumers around the world. We are bringing together two world-class companies that share a culture of innovation, brand development and cultivation to enhance our Canadian, U.S., and international scale as we pursue opportunities for accelerated growth with the strength and flexibility of our balance sheet and access to capital. Our highly complementary businesses create a combined company with a leading branded product portfolio, including the most comprehensive Cannabis 2.0 product offerings for patients and consumers, along with significant synergies across our operations in Canada, Europe and the United States. Our combination with Tilray aligns with our strategic focus and emphasis on our highest return priorities as we strive to generate value for all stakeholders. I am honoured to work with Brendan Kennedy, a pioneer in the cannabis industry, and the Tilray team as they join forces with our talented employees at Aphria. I look forward to leading the talented teams of both Aphria and Tilray as we seek to create a leading global cannabis and consumer packaged goods company with a portfolio of medical, wellness and adult-use brands consumers love.”
- Irwin D. Simon, Chairman & CEO, Aphria Inc.
Brendan Kennedy
“We are thrilled to bring together two cannabis industry leaders. At this nascent stage of development and expansion of the global cannabis market, we believe companies with leading geographic scale, product range and brand expertise are most likely to benefit long-term. By leveraging our combined strengths and capabilities, we expect to be able to meet the needs of consumers more effectively all over the world and advance patient care. With a strong financial profile, low-cost production, leading brands, distribution network and unique partnerships, we believe the Combined Company will be well-positioned to deliver sustainable, attractive returns for stockholders. I look forward to working with Irwin and the Combined Company’s management team to make our consumer products more accessible around the world.”
- Brendan Kennedy: CEO, Tilray, Inc.
https://www.aphriatilraytogether.com/
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