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Organigram Acquires Edibles Company To Tap Into Growing Demand

(Image: Evie Fjord on Unsplash) Moncton-based medical and recreational cannabis producer Organigram is looking to strengthen its position in the growing edibles market with its new acquisition. Organigram Holdings Inc., the parent company of Organigram Inc. has announced it has acquired all of the issued and outstanding shares of The Edibles & Infusions Corporation (EIC) for consideration of $22-million, plus up to an additional $13-million in shares payable upon the EIC business achieving certain earnout milestones. The EIC acquisition will broaden Organigram’s edible product offerings and provides an operational footprint in Western Canada. EIC was co-founded by AgraFlora Organics International Inc. and James Fletcher, who is the CEO of Cavalier Candies, one of Canada’s oldest confectionery companies. EIC constructed a purpose-built, highly-automated, 51,000-square-foot manufacturing facility located in Winnipeg, Manitoba.

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Organigram Announces Acquisition of The Edibles & Infusions Corporation for USD 22 Million | Organigram Announces Acquisition of The Edibles & Infusions Corporation for USD 22 MillionFinancial Buzz

Posted on 100 Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) has reported acquisition of all issued and outstanding shares of The Edibles & Infusions Corporation for a consideration of USD 22 Million and may increase by an additional USD 13 Million in shares payable upon the EIC business passing certain milestones. “Diversifying our manufacturing and R&D base gives us increased ability to fast-track our near-term commercial plans as well as expand our R&D efforts in addition to those already destined for the Centre of Excellence in connection with BAT.” “EIC is an important acquisition to ensure Organigram is consistently at the forefront of cannabis product development. The integration of EIC will continue to provide our consumers access to innovative cannabis products while leveraging Organigram’s national sales and distribution network,” said Greg Engel, Chief Executive Officer of Organigram. “Edible

James fletcherGreg engelCentre of excellenceOrganigram holdings incEdibles infusions corporationOrganigram holdingsInfusions corporationChief executive officerCavalier candiesஜேம்ஸ் பிளெட்சர்கிரெக் ஏங்கல்மையம் ஆஃப் சிறப்பானதுசமையல் உட்செலுத்துதல் நிறுவனம்உட்செலுத்துதல் நிறுவனம்தலைமை நிர்வாகி அதிகாரிகேவலியர் மிட்டாய்கள்

Why OrganiGram Holdings Stock Dropped Today

Author Bio Howard grew up in Philadelphia watching the Philly sports teams struggle for championships. He has been investing since 1989 and been a Fool since 2001. Prior to joining The Fool as a contract writer in 2019, Howard worked in the steel business as an engineer for 28 years. When he isn’t writing, he is usually out for a run, or relaxing to the music of the Grateful Dead. What happened Canadian marijuana grower OrganiGram Holdings (NASDAQ:OGI) has had an eventful month, as the stock rose about 15% in March. But some investors are taking profits today after the company announced a new acquisition has been funded with the sale of about 5 million shares of common stock. As of 10:45 a.m. EDT on Tuesday, shares were down about 5%.

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