Organigram acquires Motif Labs’ house of brands in Canada
Canadian cannabis operator, Organigram Holdings, has made a significant acquisition by purchasing Motif Labs, a leading producer based in Aylmer, Ontario, for 90 million Canadian dollars. Motif Labs is known for its cannabis concentrates, extracts, topicals, and vapes, including the popular Boxhot vape products, which dominated the market in 2024.
The acquisition involved Organigram paying 50 million Canadian dollars in cash and 40 million in Organigram shares to acquire all of Motif Labs’ shares. Additionally, Motif Labs shareholders have the potential to receive an extra 10 million Canadian dollars in Organigram shares if the stock value exceeds a certain threshold in the following year.
Beena Goldenberg, the CEO of Organigram, expressed how this acquisition positions Organigram as Canada’s largest cannabis company by market share. Motif Labs also has plans to open a distribution warehouse in London, Ontario, which will enhance efficiencies for Organigram.
To reflect this move, Organigram shares are trading as OGI on both the Nasdaq and Toronto Stock Exchange. The acquisition of Motif Labs is a significant step for Organigram’s growth and expansion within the cannabis market in Canada.
