Cannabis M&A Update

2Q 2021


  • Deal volume decreased in Q2 2021 to 87 deals, down 30% from 125 deals in Q1 and 12% from Q2 of the prior year
  • Total capital invested in M&A transactions in Q2 2021 in the Cannabis sector increased 1440% to $13.0B from $0.9B in Q2 2020
  • Strategic buyers accounted for 50.9% of deal volume YTD vs PE investors with 49.1%
  • The $7.2 billion acquisition of GW Pharmaceutics by Jazz Pharmaceuticals (NAS: JAZZ) on May 5, 2021 represented the largest completed cannabis deal in this quarter
  • Stock prices maintained the upward momentum while valuation multiples trended lower in Q2 2021 from prior year levels
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