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GlobeNewswire·

Cronos to enter the Netherlands with acquisition of Europe's largest adult-use cannabis company

CRON
  • Cronos Group Inc. will acquire CanAdelaar B.V. for an up-front cash consideration of €57.5 million (US$67.0 million) plus a contingent earnout of 0.5x normalized EBITDA for 2026 and 2027.
  • The transaction values CanAdelaar at approximately 1.4x its trailing twelve-month revenue and 2.4x its trailing twelve-month EBITDA.
  • The acquisition will grant Cronos the #1 market share position in the Netherlands' adult-use cannabis pilot program, known as the Wietexperiment.
  • CanAdelaar operates the only industrial-scale greenhouse cultivation facility within the pilot program, producing approximately 20,000kg of dried flower annually.
  • CanAdelaar's revenue grew to US$47.3 million in the twelve months ended September 30, 2025, with EBITDA reaching US$28.2 million in the same period.
  • The deal enables Cronos to leverage its borderless product strategy, including genetics, R&D, and product development, within the European market.
  • The Wietexperiment launched in April 2025, allowing 72 licensed coffee shops in ten municipalities to source cannabis exclusively from ten licensed producers, prohibiting imports or exports.
  • Cronos expects the transaction to close in early 2026, subject to customary regulatory clearances in the Netherlands.
  • CanAdelaar's current product portfolio includes flower, pre-rolls, hash, and edibles sold under the CanAdelaar Original Grow brand.