US EditionCronos Just Bought Europe’s Top Cannabis Producer — Is This the Catalyst Investors Have Waited 5 Years For?
Cronos paid €57.5 million for Canadelaar, which supplies nearly all licensed coffeeshops in the Dutch regulated cannabis experiment involving 10 local councils.
- This past week, Canadian cannabis company Cronos acquired Canadelaar in a €57.5 million deal, the first foreign purchase of a Dutch cannabis grower.
- Earlier this year, the Dutch government expanded a regulated cannabis experiment involving 10 local councils and mandatory licensed sourcing for participating coffeeshops.
- Canadelaar supplies cannabis and more recently hash to almost all 72 coffeeshops, grows about 20 tonnes a year, and reported turnover of €24 million to end September.
- Cronos said the trial covers only a fraction of the Netherlands' 562 coffeeshops, offering potential market upside as its share price rose 26% over six months.
- With a Canadian market worth $3.2 billion in 2024 and projected to reach $5.8 billion by 2030, Cronos has scale to pursue Europe, leveraging Dutch coffeeshops' global recognition for strategic value.
13 Articles
13 Articles
Cronos Just Bought Europe’s Top Cannabis Producer — Is This the Catalyst Investors Have Waited 5 Years For?
Quick Read Cronos Group (CRON) acquired CanAdelaar for $67M upfront to enter Europe’s only regulated adult-use cannabis market. Cronos still holds $824M in cash after the deal. CanAdelaar operates a 540,000-square-foot greenhouse and holds the No. 1 position in the Netherlands’ regulated market. The acquisition trades at 1.4x trailing revenue and 2.4x EBITDA. Analysts expect the deal to add 15% to 25% to Cronos revenue by 2027. If you’re foc…
Canadian producer Cronos buys key grower in Dutch cannabis pilot
Canadian cannabis producer Cronos is set to take over Canadelaar, the leading Dutch grower involved in the government’s cannabis pilot program. The publicly listed firm is willing to pay at least 57.5 million euros for the company based in Voorne aan Zee, with the final price potentially climbing higher.
Cronos Group buys Europe's largest adult-use cannabis company
A wholly-owned subsidiary of global cannabis company Cronos Group (TSX:CRON) signed a definitive agreement to acquire Netherlands-based CanAdelaar B.V., the largest adult-use cannabis company in Europe Cronos Group’s brand portfolio includes Spinach, PEACE NATURALS and Lord Jones Cronos Group stock has added 20.70 per cent year-over-year, while giving back 66.24 per cent since 2020 A wholly-owned subsidiary of global cannabis company Cronos Grou…
Canadian cannabis company Cronos is acquiring Canadelaar, the largest Dutch cannabis grower participating in the cannabis experiment. The publicly traded Cronos is willing to pay at least €57.5 million for the Voorne aan Zee-based company, and that amount could increase.
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