CALGARY, July 5, 2019 /CNW/ - In response to the growing global demand for health and wellness products, Sundial Growers Inc. ("Sundial") is proud to announce a new venture to give consumers more choices to meet their needs. Sundial has acquired UK-based Bridge Farm Group ("Bridge Farm") with plans to produce and sell high-quality CBD products globally.
Bridge Farm is a market-leading producer of ornamental plants, flowers and herbs in the United Kingdom. It currently operates three growing facilities with 1.5 million square feet and plans to expand to 3.5 million square feet by the end of 2021. Using a phased approach, and subject to necessary regulatory approvals, Sundial intends to use parts of these facilities to cultivate hemp and cannabis. The Bridge Farm acquisition will establish Sundial's presence in Europe and represents an important milestone for its international expansion.
"This is a significant acquisition for Sundial, taking us one step closer to our goal of being one of the leading cannabis companies in the world," said Torsten Kuenzlen, Chief Executive Officer of Sundial. "We recognize that expedient global expansion requires a combination of organic growth and strategic acquisitions. Bridge Farm's experienced management team, strong market position and operational excellence made it an ideal acquisition."
Sundial will now have two operational geographic regions: a business focused on premium inhalable products in Canada and a low-cost producer-at-scale in the United Kingdom. This positions Sundial more holistically as a company that proudly crafts pioneering cannabis brands to Heal Help and PlayTM.
"I am excited and confident that Sundial will continue to improve the operational excellence and the quality of the products grown in the Bridge Farm facilities," said David Ball, Sundial's President, Europe. "There is a local, European and global demand for CBD and other cannabis products, which we are well positioned to supply. Sundial is poised to become a leader in the Help sector."
In conjunction with the Bridge Farm acquisition and evolved corporate structure with two geographic regions, Sundial is promoting Andrew Stordeur to President of its Canadian operations. Andrew joined Sundial in 2018 as Chief Commercial Officer, after previously working for Molson Coors as Chief Commercial Officer for Canada.
About Sundial Growers Inc.
Sundial proudly crafts pioneering cannabis brands to Heal, Help and PlayTM:
- Heal – cannabis products used as prescription medicine
- Help – cannabis products that strive to promote overall Health and wellness through CBD
- Play – cannabis products to enhance social, spiritual and recreational occasions
We have experience in the fast-moving consumer goods industry enabling us to not just grow the finest quality cannabis, but also create exceptional consumer and customer experiences.
To craft the best and most trusted cannabis, our team of legendary growers focus on quality and consistency. We are a 'craft-at-scale' licensed producer using purpose-built modular facilities and award-winning genetics.
We currently operate two locations in Alberta, including our flagship facility in Olds and another one in Rocky View, with plans to build a third facility in British Columbia.
Forward-Looking Information Cautionary Statement
This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward-looking statements in this release include, but are not limited to, the planned transition of Bridge Farm's facilities to hemp and CBD product production, the total potential cultivation space available at Bridge Farm and the building of a third Canadian facility. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Sundial is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
SOURCE Sundial Growers
For further information: Media Contact: Sophie Pilon, Corporate Communications Manager, Sundial Growers Inc., C: 1.403.815.7340, E: [email protected]