Cannabis M&A Update

1Q 2021

RESOURCE HIGHLIGHTS

  • M&A deal volume in the Cannabis sector saw a significant bounce back in Q1 2021 to 125 deals, up 64% from 76 deals in Q4 2020 and 26% from 99 in Q1 of the prior year
  • Total capital invested in M&A transactions in Q1 2021 in the Cannabis sector increased 28% to $2.7B from $2.1B in Q1 2020
  • Strategic buyers accounted for 38.4% of deal volume in Q1 2021 vs PE investors with 61.6%
  • The acquisition of Liberty Health Sciences by Ayr Wellness (CNQ: AYR.A) for CAD 372 million represented the largest Cannabis deal in Q1 2021
  • Stock prices maintained the upward momentum while valuation multiples trended lower in Q1 2021 from prior year levels

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