Canadian cannabis operator Organigram acquires Motif Labs’ house of brands

Organigram Holdings – a Canadian cannabis licensed producer with operations in Moncton, New  Brunswick, Lac-Supérior, Quebec, and Winnipeg, Manitoba – acquired Motif Labs for 90 million Canadian dollars ($63.6 million), according to a news release.

Motif Labs, based in Aylmer, Ontario, produces cannabis concentrates, extracts, topicals and vapes.

The company’s Boxhot line of cannabis vape products is Canada’s No. 1-selling brand in the vape category for 2024, according to Seattle-based cannabis data firm Headset.

Other Motif brands include Boondocks, Debunk, Floe State and Rizzlers.

Organigram paid CA$50 million ($35.3 million) in cash and CA$40 million in Organigram shares to acquire 100% of the issued and outstanding shares of Motif Labs.

Motif Labs shareholders could receive an additional CA$10 million in Organigram shares if the value of that stock exceeds CA$3.22 in the 12 months following the transaction, according to the news release.

Beena Goldenberg, CEO of Organigram, said the acquisition “establishes Organigram as Canada’s largest cannabis company by market share.”

Motif has a wholesale division and is set to open a distribution warehouse in London, Ontario, that will create efficiencies for Organigram.

Organigram shares trade as OGI on the Nasdaq and Toronto Stock Exchange.