Grow Opportunity

Markets News Business Management Retail
Aurora Cannabis completes acquisition of Thrive Cannabis


May 6, 2022
By Grow Opportunity staff

Topics

Aurora Cannabis Inc. has completed its acquisition of TerraFarma Inc., the parent company of Thrive Cannabis.

First announced in March, the $38-million deal expands Aurora’s Canadian footprint, as Thrive amalgamates with a subsidiary of Aurora, placing the Thrive team in charge of Aurora’s Canadian recreational portfolio and advancing the shift in focus to products including dried flower, pre-rolls, vapour products, and concentrates.

“With the transaction closing, we officially welcome Geoff Hoover and his team to Aurora,” Aurora CEO Miguel Martin said in a May 5 news release. “We look forward to the expertise they will bring to our Canadian recreational business and Aurora’s leadership in the global cannabis space.”

Hoover, the former CEO of Thrive, joins Aurora in the role of SVP, Consumer.

Advertisement

Thrive was founded in 2018 in Simcoe, Ontario, and is known for its Greybeard Cannabis Co. adult-use brand, which specializes in small-batch craft cannabis concentrates and flower products.

Aurora is headquartered in Edmonton, and serves both the medical and consumer markets.