Connect with us

Cannabis

Aurora Cannabis Board appoints Nelson Peltz as Adviser

mm

Published

on

aurora cannabis

Source of Image: www.auroramj.com/

The Aurora Cannabis company has taken on a new adviser, Nelson Peltz, who in the past, has been connected with popular consumer brands like Heinz, The Procter & Gamble Company and the Snapple Beverage Corporation as well.

Edmonton based, Aurora hopes to gain from his extensive experience to build their own brand expertise, especially at a time when business is booming.

They had made this announcement about their strategic collaboration via a press release published in the media on Wednesday. A move like this could make Aurora a big brand in the mainstream consumer packaged products industry. Peltz’s main work will be to look for business that have positive potential for the brand and advice them on appropriate global expansion strategies.

Who is Nelson Peltz?

He’s the current CEO and a founding partner of the Trian Fund Management Investment Firm. The firm already owns Snapple and Wendy’s. He is also part of the board that runs Sysco, Procter & Gamble and Madison Square Garden.

In their statement, Aurora had mentioned that Nelson is a business visionary that’s recognised globally and holds an exceptional track record of being able to generate accelerated and profitable growth as well as share holder value.

According to Forbes, Peltz has a net worth of US$1.6 billion and the head of the Triangle Industries Inc packaging company too.

Peltz’s take on the job

He has commented in a statement about the Aurora company, saying that they had a solid execution track record, well differentiated from their peers and has managed to achieve integration across their entire value chain.

Continuing on, he described Aurora as ready to move onto the next levels in an array of industry verticals and that Aurora, among several Canadian licensed producers, have what it takes to be leaders in the development of global cannabis, especially in a time when regulations are favourable and with a sound operating model.

What’s the industry’s take on this?

Purpose Investments, CIO, Greg Taylor, said that this deal clearly suggests that some kind of new beverage or consumer product could be brought to the table.

He had told the Yahoo Finance team in Canada that this was the good news that Aurora had been looking for. The company had struggled to close some other deals and that this possible beverage deal could be the best one yet. Adding this much needed outside expertise could take them to the next level and that Peltz as the new adviser should make this more likely.

The company’s main rivals have been trying to launch their own deals on board too and have approached American brands to do that. The more recent one is the $5 billion investment between beverage brand Constellation Brands and Canopy Growth Corp.

Then you’ve also got Cronos Group Inc.’s tie-up with the Altria Group Inc., a popular tobacco group.

With Aurora knowing that what they have to offer could be big in the upcoming years and with Peltz’s history of success in the consumer products industry, it seems like a win-win situation for the company and its stakeholders.

Ivan writes about Cannabis at The Cannabis Radar. He has a degree in Nutrition Sciences from University of Oklahoma Health Sciences Centre. He likes to spend his spare time reading to his daughter or spending time with his wife.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *