Tuesday, 21 May, 2019

Billionaire Peltz joins Aurora Cannabis to advise on partnerships, expansion

Aurora Cannabis shares higher after Peltz comes aboard Billionaire Nelson Peltz is getting into the cannabis business (ACB)
Jean Garcia | 15 March, 2019, 08:43

He's the non-executive chairman of stoner-friendly fast-food restaurant Wendy's, and has been the director of Heinz and Mondelez, the makers of Oreos. (ACI) sent the latter's stock surging almost 16 percent Wednesday.

The Edmonton-based cannabis company says it has granted Peltz options to purchase almost 20 million common shares at $10.34 per share, slightly below Tuesday's closing price.

Peltz, 76, was apparently brought in to instill financial and operational discipline into the youngsters running the multi-billion dollar enterprise.

"In light of Peltz's past deals as an activist, we do not view the announcement as a step toward driving change to the existing business model (e.g., not a breakup story)", Cowen said.

Aurora has reportedly been in talks with Coca-Cola to develop beverages that use CBD, a non-psychotropic chemical found in marijuana that can be used to treat anxiety, depression, and cramps.

Aurora Cannabis shares rose more than 10 percent on the news of Peltz's appointment.

Peltz's experience jibes with ACI's needs.

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Shares of Aurora Cannabis spiked higher Wednesday after the company announced billionaire investor Nelson Peltz joined the pot producer as an advisor.

"I believe Aurora has a solid execution track record, is strongly differentiated from its peers, has achieved integration throughout the value chain and is poised to go to the next level across a range of industry verticals", Peltz said in a statement. Aurora is a Canadian producer of marijuana that is listed in both Toronto and NY.

Peltz, the CEO of hedge fund Trian Partners, may be a newcomer to the growing marijuana industry, but he's always been an investor in the munchies.

"There is so much happening in this area right now and we think it has incredible potential", said Heather MacGregor, ACI spokesperson in September 2018.

The possibility cannabis-infused drinks will be sold in the open has triggered a surge of investments in Canadian companies, which are leading the booming cannabis industry.

Aurora, based in Edmonton, Alberta, hasn't yet secured a major strategic partner along the lines of Constellation Brands Inc.'s investment in Canopy Growth Corp. or Altria Group Inc.'s deal with Cronos Group Inc.

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