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- Sundial Growers (NASDAQ:SNDL) +19.6% post-market on news it agrees to acquire liquor retailer Alcanna for C$9.12/share, totaling C$346M.
- Alcanna is Canada's largest private liquor retailer, operating 171 locations mostly in Alberta, but its majority-owned subsidiary is Canadian cannabis retailer Nova Cannabis.
- "Alcanna's value-focused model in liquor retailing has created market stability and we believe that the replication of this playbook in cannabis has strong potential to drive a similar result," Sundial CEO Zach George says.
- Seeking Alpha contributor IncomeBent Investments sees Sundial Growers as a speculative buy as the Canadian cannabis industry works out the long-term sector leaders.