Valens to acquire craft cannabis producer Citizen Stash for $54.3M
August 31, 2021 By Grow Opportunity staff
B.C.-based Citizen Stash Cannabis Corp. will soon join The Valens Company Inc. and its portfolio of cannabis brands.
The acquisition is valued at approximately $54.3 million, according to a Valens company statement. Shareholders of Citizen Stash will receive 0.1620 of a Valens common share for each Citizen Stash share held. This marks Valens’ third acquisition this year.
“We are excited to join forces with Citizen Stash’s experienced team and broaden our offerings in the flower and pre-roll verticals with a best-in-class brand,” said Valens CEO Tyler Robson. “The premium price tier of the flower and pre-roll segments represents the best expansion opportunity for Valens in the flower category, as premium brands are the hardest to build, while also capturing the highest margins.”
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