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CannTrust Hires Greenhill to Explore Sale After Pot Breach

  • Committee will explore other options as part of its review
  • Company unlikely to be acquired in near term, analyst says
Bloomberg business news
CannTrust Interim CEO Confident Company Can Be ‘Rehabilitated’
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CannTrust Holdings Inc. hired Greenhill & Co. to explore a sale after a regulatory breach led the Canadian pot company to fire its chief executive officer and erased about C$500 million ($380 million) in market value.

Greenhill will advise a special committee of CannTrust’s board, which will review potential alternatives including a sale, a strategic investment or a business combination, CannTrust said in a statement Wednesday. The special committee was appointed to investigate after regulators from Health Canada found the company grew cannabis in unlicensed parts of its greenhouse in Pelham, Ontario.