Tilray announced it will close its wholly owned subsidiary High Park Gardens greenhouse in Leamington, Ontario.
Businesswire
- Tilray acquired the 406,000 square-foot facility, which employes 120, as part of its $70M acquisition of Natura Naturals in 2019. (The plant is old and requires improvement.)
CTV News, Twitter–@MaryKDurocher1 - The move is expected to save the company $7.5M annually.
BNN Bloomberg
LPs’ eager pre-legalization overspending on acquisitions led to the series of facility closures that began last fall with Hexo‘s shuttering of an Ontario facility.
St Catherine Standard
- Since then Aurora abandoned construction on facilities in Denmark and delayed completion of its Aurora Sun facility.
MJ Biz Daily - Canopy closed greenhouses in BC in March, then expanded its retreat in April to close greenhouses on three continents, including the Tweed Grasslands greenhouse in Yorktown, SK.
BNN Bloomberg, MJ Biz Daily, CBC Saskatoon - Tilray’s move to close High Park Gardens came shortly after Aurora sold a greenhouse in Exeter, ON at half the listed price.
MJ Biz Daily
With facility closures come facilities for sale, and there are now a variety of cannabis production facilities available for purchase in BC. The problem, of course, is that facilities can be bought and sold, but cannabis licenses cannot (meaning anyone buying assets must apply and re-license facilities).
Vancouver Sun, Twitter–@trinafraser
Companies are also leaving Jamaica at a noticeable rate. The Green Organic Dutchman scrapped all plans in the Caribbean nation, following Aurora in exiting Jamaican operations.
MJ Biz Daily, Stabroek News
