On November 1, 2022, in the context of its proceedings under the Companies' Creditors Arrangement Act (Canada), the Zenabis group announced its acquisition by its secured creditor SNDL, the largest private sector liquor and cannabis retailer in Canada, pursuant to an order of the Superior Court of Québec. The Monitor provided significant support in the process leading to the closing of the transaction and the exit of Zenabis from the CCAA process. As a result of the transaction, SNDL acquired a large indoor cultivation facility, significant cannabis inventory, and additional real estate assets.
Osler, Hoskin & Harcourt LLP advised Ernst & Young Inc. with a team consisting of Sandra Abitan, Julien Morissette and Ilia Kravtsov (Insolvency & Restructuring).