- Ticker 2:TSE:APHA
- CEO:Irwin Simon
Aphria (NYSE:APHA) Stock Price
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Aphria (NYSE:APHA) Company Overview
Leamington-based Aphria was founded in 2011 by Cole Cacciavillani and John Cervini and is a Canadian Licensed Producer, which is engaged in producing and selling cannabis. Through its subsidiary Broken Coast Cannabis (which Aphria acquired for $230 million in 2018) and its Aphria One and Diamond facilities, the Company produces and sells medical and recreational cannabis, and supplied almost all of the Canadian Provinces.
Aphria One serves as the basis, on which the Company develops techniques in cultivation, extraction and processing cannabis.
In 2018, Aphria also purchased Nuuvera for $826 million, in part due to its market position internationally, especially in Germany and Italy. This acquisition has been crucial in laying the foundation for Aphria's successful entry and tender to supply the German market (considered the most lucrative medicinal cannabis market in the world).
In July 2018, Aphria acquired a collection South American cannabis companies for about $200 million in a deal with Scythian Biosciences, a closely related company sometimes described as an acquisition arm of Aphria. Later in the year, this purchase was the focus of attention of an aggressive short-report from Hindenburg Research, attacking the true value and arms-length nature of these LATAM acquisitions.
In the fallout from the report, Vic Neufield (the CEO) and Cole Cacciavillani resigned from the company with immediate effect, and Aphria nominated Simon D. Irwin as Chair of the Board of Directors and interim CEO in December 2018.
- Address:269 Erie St South, Leamington, ON N8H 3C4, Canada