 |
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.
C Street Advisory handles iRobot Corp as the marketer of the Roomba autonomous vacuum cleaner files Chapter 11 after being squeezed by cheaper competitors.
Joele Frank represents Confluent Inc. as the Mountain View, CA-based data streaming platform company agrees to be acquired by IBM in a deal with an enterprise value of $11B.
Tom Johnson, who has headed H/Advisors Abernathy since 2016, will join FGS Global as global head of private capital & financial services, effective Dec. 16.
Brunswick Group and Gagnier Communications are handling Paramount’s $30 cash per-share offer for all of Warner Bros Discovery, topping Netflix $27.50 cash/stock transaction.
ICR Inc. handles communications for Enhanced Ltd, which plans to run Olympic-type competitions with athletes using performance-enhancing drugs, as it goes public in a SPAC deal valued at $1.2B via a merger with A Paradise Acquisition Corp. of Hong Kong.
