Calgary-based cannabis company Sundial Growers Inc. acquired U.K.-based Bridge Farm Group with plans to produce and sell high-quality CBD products globally.
In a news release, Sundial said Bridge Farm is a market-leading producer of ornamental plants, flowers and herbs in the United Kingdom. It 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 said it 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, it added.
Torsten Kuenzlen
Sundial CEO
“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 said it 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.
“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 European president. “There is a local, European and global demand for CBD and other cannabis products, which we are well positioned to supply. “
Sundial has facilities in Olds and Rocky View County, with plans to build a third in British Columbia.
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