Organigram acquires Sanity Group

Goodmans LLP advised Organigram Global Inc. (the “Company” or “Organigram”), a leading licensed producer of cannabis, in connection with its acquisition of Sanity Group GmbH (“Sanity” or “Sanity Group”) for €107.3 million (“Upfront Consideration”), as well as the related C$65.2 million investment from British American Tobacco (“BAT”) through its subsidiary, BT DE Investments Inc. and the establishment of a new credit facility with ATB Financial and a syndicate of lenders.  

The Upfront Consideration consisted of €78.0 million in cash and €29.3 million in Organigram shares, representing a 71% premium, with a performance-based earnout of up to €113.8 million to follow. This acquisition strengthened Organigram’s position as a global leader by providing a vertically integrated platform in Germany—the world’s second-largest federally legal cannabis market.

Organigram Global Inc. is a NASDAQ Global Select Market and TSX listed company whose wholly owned subsidiary, Organigram Inc., is a licensed cultivator of cannabis and manufacturer of cannabis-derived goods in Canada.