News
Motif purchase turns Organigram into a cannabis giant
Published on December 20, 2024 by Pat Bulmer

Buying one of Canada’s top companies in the vape and infused pre-roll categories will establish Organigram as Canada’s largest cannabis company by market share, the company claimed in a news release.
Organigram is buying Motif Labs Ltd. for $90 million, consisting of $50 million in cash and $40 million of Organigram common shares.
Motif, headquartered in Aylmer, Ont., has “a portfolio of strong, owned brands, including the popular Boxhot brand,” the release said. The company is also building a large distribution warehouse in London, Ont.
With the sale, “Organigram captures leadership position in the vape and pre-roll categories with the opportunity to expand Motif’s distribution to new markets including Quebec and Atlantic Canada.”
Organigram released financial results on Wednesday, showing revenues were heading up while expenses and losses were going down.
Earnings up, net loss down
Earnings for the year were up 55%. Quarterly earnings were also better. The company’s net loss was $45.4 million, down from $247 million a year ago.
“Fiscal 2024 was a transformative year where our entire team delivered on multiple fronts”, said CEO Beena Goldenberg in a news release “We received significant funding from BAT (through a wholly-owned subsidiary of British American Tobacco) when capital for the cannabis industry was scarce. We made smart, strategic investments, including into seed-based technology and automation … We have also expanded our international footprint through a $21 million investment in Sanity Group, a leading German cannabis company.”
Organigram and BAT are working together on edible, vape and beverage technologies.
Organigram’s brands include Edison, Holy Mountain, Big Bag O’ Buds, Shred, Shred’ems, Monjour, Laurentian, Tremblant Cannabis and Trailblazer.
Organigram operates facilities in Moncton, N.B. and Lac-Supérieur, Que., with edibles manufacturing in Winnipeg. EU certification of the company’s Moncton facility is in the works and should boost exports, the company said,
Canopy Growth buys Acreage
In another industry takeover, Smith Falls, Ont.-based Canopy Growth’s American division has bought Acreage Holdings.
Acreage is BC based, but operates in the United States. Canopy has purchased all Acreage shares, a news release said.
Acreage, formerly known as High Street Capital Partners, has cannabis cultivation, processing and dispensing operations. It began in Maine in 2011 as a medical marijuana company, according to Wikipedia.
Canopy USA also recently bought Wana Wellness and 77% of the shares of Lemurian, Inc. (aka Jetty).
Canna Cabana Club going global
In other business news, Canna Cabana owner High Tide announced it is taking its e-commerce brand, Cabana Club, global.
Cabana Club membership programs will launch in the United States, United Kingdom and European Union.
“The company is adding international snacks and confectionary to its e-commerce offerings, which already include hemp-derived CBD products, consumption accessories and related merchandise,” a news release said.
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