Exclusive: Goodleaf-Highlands Merger Creates Largest Integrated Cannabis Co. In Africa

South Africa-based brand Goodleaf Company is merging with Highlands Investments in a deal valued at almost R650 million ($50 million), Benzinga has learned exclusively ahead of an official announcement.

The combination of Goodleaf, the leading retail brand in South Africa, and Highlands, formerly Canopy Growth (NASDAQ: CGC) Africa, will result in the creation of the largest vertically integrated cannabis operation in Africa. The combined entity boasts more than $25 million in investments in the continent to date.

Under terms of the deals, shareholders of Highlands Investments will own 35% of the combined entity, while Goodleaf stockholders will …

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More Exclusive: Goodleaf-Highlands Merger Creates Largest Integrated Cannabis Co. In Africa