On May 9, 2019, Neptune Wellness Solutions announced the signing of a definitive agreement to acquire substantially all of the assets of SugarLeaf Labs and Forest Remedies (collectively, "SugarLeaf") for a maximum aggregate purchase price of up to US$150 million. Neptune's objective is to be a world's leader in extraction, purification and formulation of value-added cannabis and natural health products.
Neptune Wellness Solutions, specializes in the extraction, purification and formulation of health and wellness products.
SugarLeaf Labs, based in Conover, North Carolina, is a commercial hemp company and provides extraction services and formulated products. Forest Remedies provides extraction services for commercial hemp and formulated products.
Osler, Hoskin & Harcourt LLP represented Neptune Wellness Solutions on the Canadian and U.S. M&A aspects of the transaction with a team consisting of François Paradis, Jason Comerford, Bastien Gauthier, Mikulas Arendas and Jie Chai (Corporate), and Paul Seraganian, Antoine Stébenne and Zack Crawford (Tax).