Organigram Holdings Inc (TSE: OGI) (NASDAQ: OGI) has solidified its place as Canada’s top cannabis company by market share at 12.4 per cent of the total. This was made possible through the C$90-million-dollar acquisition of Motif Labs this week — an Ontario-based extraction specialist. It was formerly the largest private pot brand nationwide.
Through the deal, Organigram will obtain the popular vaporizer brand BOXHOT along with the Boondocks, Rizzlers, Floe State and Debunk product lines. These brands distribute infused blunts, high-grade flower, concentrates and other cannabinoid goods.
BOXHOT is currently Canada’s number one vaporizer brand, according to Washington’s cannabis market analyst Headset.
“It’s made for big hits and gettin’ ripped with some of the tastiest strain-specific flavours out there,” Motif says about the vape label. The distillate major increased its revenue by C$44 million between 2022 and 2023 to C$79 million. Motif is capable of producing up to 1,350 kilograms of distillate per month.
Post-acquisition, Organigram’s market share in the nation’s vapes sector exceeds 21 per cent and its position in the infused pre-roll segment of Canada’s industry sits at about 16 per cent. Acquiring the Aylmer-based resin guru has also brought the New Brunswick cannabis operator’s stature in the domestic hash industry up to 21.6 per cent.
“The Motif team is thrilled to be joining forces with Organigram to create Canada’s undisputed leader with deep capabilities in all major cannabis categories” Motif Labs founder and chief executive, Mario Naric, said in a statement published by Organigram on Friday.
Additionally, Organigram is obtaining a large-scale distribution warehouse in London, Ontario through the transaction. The merger has created a cannabis operator with five advanced facilities throughout the country.
Photo credit: Motif Labs
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Motif Labs is a cannabis marketing competition finalist
In November, the marijuana laboratory revealed that it had made the list of top contenders for the 2024 ADCANN Awards. The company hosting the competition focuses on analyzing marketing campaigns in the industry.
There are five finalists in each of the various categories. Voting will be ongoing until the end of the month. These include Craft Brand of the Year, Best Social Media, and Marketing Campaign of the Year.
Among Canadian winners, BOXHOT was victorious in the “Accessory Brand of the Year” category last year with its GLOWSTICKS vaporizer.
Also Spinach, a Cronos Group Inc (TSE: CRON) (NASDAQ: CRON) brand, which won in the social media category; and Ghost Drops, a quirky label that took the trophy for the top marketing campaign in 2023.
Trailing behind Organigram, now the top Canadian brand by market share, are Ontario’s Canopy Growth Corp (TSE: WEED) (NASDAQ: CGC) and Edmonton-based Aurora Cannabis Inc (TSE: ACB) (NASDAQ: ACB).
Z&A and MOTIF Call: Learn more here about @Organigram_Inc ‘s latest acquisition.#cannabis #cannabisindustry#cannabiscommunity$OGI pic.twitter.com/6CEOXyzZyn
— Pablo Zuanic (@420Odysseus) December 6, 2024
rowan@mugglehead.com
