Origin Merchant Partners is pleased to announce that Village Farms International, Inc. (“Village Farms”) has announced it has entered into a definitive purchase and sale agreement with Emerald Health Therapeutics, Inc. (« Emerald ») to acquire the remaining common shares of Pure Sunfarms Corp. (“Pure Sunfarms”) from Emerald for $79.9 million. Upon completion of the transaction, Village Farms will own 100% of the common shares of Pure Sunfarms. Origin Merchant Partners acted as the exclusive financial advisor to Village Farms on this transaction.
Village Farms (TSX:VFF, NASDAQ: VFF) is one of the largest and longest-operating greenhouse growers in North America, and is leveraging its decades of experience as a large-scale, low-cost intensive agriculture and vertically integrated produce supplier to pursue high-value, high-growth plant-based Consumer Packaged Goods opportunities in cannabis and CBD in North America and selected markets internationally.
Pure Sunfarms is one of the single largest cannabis operations in the world, the lowest-cost greenhouse producer, one of the best-selling brands, and has generated profitability for six consecutive quarters.