Foley Hoag Represents The Valens Company in Acquisition of Green Roads Worth Up to $60M
April 29, 2021
Foley Hoag LLP represented The Valens Company Inc. (TSX: VLNS) (OTCQX: VLNCF), a leading manufacturer of cannabis products, in a definitive agreement to acquire all of the issued and outstanding shares of Green Roads and its majority owned manufacturing subsidiary in a cash and share transaction for $40 million, plus up to an additional $20 million in contingent consideration payable upon the business achieving certain EBITDA milestones. Green Roads is the largest privately owned CBD company in the United States. The acquisition strengthens the capabilities of The Valens Company to supply US domestic and global markets with an expanded product offering, and provides immediate entry into the US market with a trusted and leading CBD health and wellness brand with an established manufacturing and distribution platform.
Based in Kelowna, B.C., The Valens Company provides proprietary cannabis processing services, in addition to best-in-class product development, formulation and manufacturing of cannabis consumer packaged goods. The company’s high-quality products are exclusively formulated for the medical, therapeutic, health and wellness, and recreational consumer segments, and are offered across numerous product formats, including oils, vapes, concentrates, edibles and topicals, as well as pre-rolls, with a focus on next-generation product development and innovation.
Foley Hoag attorneys Colin Kirby, Zana Operta, Kimberly Cyrus, Shir Wisenberg, Anna Annino, Nicola Lemay, Jesse Alderman, Michael McQueeny, Christopher Hart, Creighton Page, Erica Rice and Ryan Rourke Reed represented The Valens Company in the transaction.
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