Aurora Cannabis has finalized a $215 million acquisition of MedLeaf Therapeutics, a medical cannabis producer based in New Zealand. The deal, which consists of $125 million in cash and $90 million in Aurora common shares, is expected to close by August 31.
This acquisition allows Aurora, headquartered in Edmonton, Alberta, to broaden its medical cannabis offerings and strengthen its international reach, particularly in Europe and Australia where MedLeaf has established distribution networks. MedLeaf is recognized for its high-potency medical formulations and robust clinical research initiatives.
Aurora CEO Miguel Martin emphasized that this acquisition fits well with the company’s strategy to expand globally in the medical cannabis sector. He stated in a filing with the U.S. Securities and Exchange Commission that it introduces complementary products to their existing portfolio.
MedLeaf’s leadership team will integrate with Aurora to facilitate the merger and maintain business continuity. In its last fiscal year, MedLeaf reported $78 million in revenue and operates two Good Manufacturing Practice (GMP)-certified production facilities with a combined capacity of 35,000 kilograms, or approximately 38.6 U.S. tons.
Aurora itself reported a 39% year-over-year increase in global medical cannabis net revenue, totaling $244.4 million. In the fourth quarter, medical cannabis net revenue reached $67.8 million, marking a 48% rise compared to the same period last year. This growth is attributed to increased sales in markets such as Australia, Germany, Poland, the United Kingdom, and Canada.
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