Village Farms International Acquires 70% of Québec-Based ROSE LifeScience


<![CDATA[VANCOUVER, British Columbia, November 15, 2021 – PRESS RELEASE – Village Farms International, Inc. (Village Farms) announced it has acquired 70% ownership of privately-held, Québec-based ROSE LifeScience (ROSE), a vertically integrated branded cannabis producer, supplier and commercialization expert in the Province of Québec. The transaction is valued at up to $46.7 million. ROSE becomes the Québec operational unit of Village Farms’ Canadian cannabis business segment, with ROSE’s headquarters and the existing team remaining in Québec.ROSE is a third-party cannabis products commercialization expert in the Province of Québec, acting as the exclusive, direct-to-retail sales, marketing and distribution entity for Entourage Health, Sundial, Tilray and The Flowr Corporation and 10 Québec micro and craft growers throughout Québec. ROSE also distributes to Québec retail its brand of high-quality cannabis products. Tam Tams is grown and processed at ROSE’s Québec-based, Health Canada-licensed 55,000-square-foot controlled environment agriculture (CEA), purpose-built facility in Huntingdon, which was commissioned in 2020. ROSE also enables a platform for commercialization in the market for several Québec-based micro-producers under its DLYS brand.Highlights of the AcquisitionAdds a substantial presence in the Province of Québec as a cannabis supplier, producer and commercialization expert, which represents approximately 15% of total Canadian retail cannabis sales at the current annualized run rate of more than $627 million, the vast majority of which is dried flower and pre-rolled products;Adds experienced, Québec-based industry professionals who will join the Village Farms/Pure Sunfarms team, bolstering extensive existing relationships in the Québec cannabis market and leveraging specialized, deep experience in both consumer-packaged goods and regulated industries; and,Adds a Québec-based 55,000-square-foot, health Canada-licensed CEA cultivation and processing facility"The acquisition of ROSE, by far the most successful Québec-based cannabis operator in our view, is a prudent and strategic means by which to enter and rapidly ramp sales in one of Canada’s largest provincial cannabis markets," said Michael…

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Source : Village Farms International Acquires 70% of Québec-Based ROSE LifeScience

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