TORONTO and BERLIN — Organigram Global Inc. completed its acquisition of Sanity Group GmbH. The acquisition has been pending since February.
A wholly owned Organigram subsidiary acquired all the issued and outstanding shares of Sanity Group not already owned by Organigram for an upfront purchase price of €107.3 million, consisting of €78.0 million in cash and €29.3 million in shares.
As part of the deal, Max Konrad Narr, formerly Sanity Group’s managing director and chief investment and strategy officer, was appointed to Organigram’s board of directors.
Concurrently with the acquisition, Organigram closed a private placement financing round with BT DE Investments Inc., a wholly owned subsidiary of British American Tobacco p.l.c. (BAT), for total gross proceeds of €40.3 million (about C$65.2 million), and a previously announced senior secured credit facility of up to C$60 million.
A portion of the upfront consideration’s cash component was funded using an amount drawn from Organigram’s Jupiter strategic investment pool, a capital pool established in 2024 with funding from BAT to support international growth initiatives. The use of such funds in connection with the Sanity acquisition represents the final deployment of the Jupiter pool.
