Valens GroWorks, based in Kelowna, has acquired Pommies Cider in a cash and stock deal that will help it expand into the cannabis-infused beverage and edible market.
Pommies operates a 32,00 sq. ft. facility in Caledon and is consider a top hard cider manufacturer in Ontario.
Valens is a cannabis extraction company and currently has pilot-scale capacity for cannabis-infused beverages. But it expects to produce beverages at mass scale in the first half of 2020.
Pommies owners Nick and Lindsay Sutcliffe will remain with the company.
The total consideration is $7.5-million, subject to achieving certain milestones.
