Organigram Acquires Motif, Becoming Canada’s Largest Cannabis Company by Market Share
Summary
Motif has repeatedly proven to be able to design, develop and launch, innovative and high-quality products at speed and scale, resulting in market growth with SKUs and brands that resonate with consumers. “This is a landmark transaction in our industry and the Motif team is thrilled to be joining forces with Organigram to create Canada’s undisputed leader with deep capabilities in all major cannabis categories.” • Grew from $35 million in net revenue in 2022 to $79 million in 2023 and has generated approximately $86 million in LTM4 • Maintained a #1 vape position for over two years, with a current market share of 21.2%6 supported by the strength of the BOXHOT and DEBUNK brands, backstopped by vape manufacturing capabilities of over 1 million units a month • Currently the #3 position and growing in IPRs6 and growing market share supported by monthly IPR manufacturing capabilities of over 750k units per month • Deep expertise and proven efficiency at various extraction methodologies such as hydrocarbon, ethanol, and CO • Capable of producing 1,350 kg of distillate per month and 400 kg of hydrocarbon derived extracts • Extraction breadth of expertise and efficiencies support various ready-to-consume categories that require traditional inputs such as THC and CBD but also more innovative and novel products that use minor cannabinoids such as CBN, CBG and CBC • Production of THCA, a highly sought input to the production of the fast-growing IPR market, is also a key core capability of Motif “Organigram has a proven track record of executing on Canadian M&A, successfully capturing and growing market share with highly complementary acquisitions that add to our existing strengths. Organigram captures leadership position in the vape and pre-roll categories with the opportunity to expand Motif’s distribution to new markets including Quebec and Atlantic Canada. Organigram is focused on producing high-quality, cannabis for patients and adult-recreational consumers, as well as developing international business partnerships to extend the Company’s global footprint. Founded by a team of scientists and engineers, Motif was the largest privately owned cannabis business in Canada prior to the completion of the transaction.