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Joele Frank, Wilkinson Brimmer Katcher is handling Canadian cannabis company Cronos Group, which has received a $1.8B investment from Altria Group.
Mike Gorenstein, CEO of Cronos, said the alliance with the parent of cigarette maker Philip Morris will provide resources and expertise to accelerate growth.
Cronos will benefit from Altria’s experience in regulatory, government affairs, compliance, product development and brand management as new markets for cannabis open throughout the world, according to Gorenstein.
Howard Willard, CEO of Altria, said Cronos is his company’s “exclusive partner in the emerging global cannabis category and an exciting growth opportunity.”
Altria’s investment translates into a 45 percent stake in Toronto-based Cronos. The Marlboro marketer has warrants exercisable into an additional 10 percent Cronos position.
JFWBK’s Adam Pollack and Mahmoud Siddig represent Cronos.
Joele Frank handles Crinetics Pharmaceuticals as the specialist for treatments for endocrine diseases agrees to get acquired by Vertex Pharmaceuticals in a deal pegged at $8.8B.
Teneo represents Honeywell spin-off Solstice Advanced Materials as it buys Collected Strategies client Element Solutions in a deal pegged at $14.5B.
Dallas-based Throughline Global Advisors advised Principal Mineral as it acquired Isola Group, maker of copper-clad laminates used in printed circuit boards.
oele Frank works for satellite operator Iridium Communications as it gets acquired by space company Rocket Lab in a deal worth $8B.
Uber’s Mike Lucarelli is moving to NXP Semiconductors as senior VP-investor relations.
