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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.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
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