Cronos Group announced that it will acquire CanAdelaar, in which Altria holds approximately 41% of the shares, for approximately €57 million. The deadline for closing the transaction was extended to 9 September 2026 due to factors including the Bibob review.
Cronos Group will expand its strategic presence in the Dutch cannabis market by acquiring CanAdelaar. The purchase price is approximately €57 million, and Altria is expected to hold approximately 41% of CanAdelaar's shares through the transaction. Closing is subject to multiple factors, including the Bibob review, and the deadline for completion has been extended to 9 September 2026.
CanAdelaar operates approximately 50,000 square meters of greenhouse space in Voorne aan Zee. Its revenue was USD 17.7 million in 2024 and increased to USD 47.3 million in 2025. Cronos Group's acquisition is seen as aimed at strengthening its European strategy and expanding its market presence.
The Dutch government recognizes that the legal framework lacks provisions barring participation based on shareholders' backgrounds. The Bibob review provides grounds for a renewed assessment when the ownership structure changes, but health policy considerations are not explicitly addressed. Existing safeguards, including advertising bans and packaging regulations, have also been identified, while the view has been expressed that Article 5.3 does not apply to cannabis.
2 of the 10 participating growers are controlled by foreign-listed companies, and CanAdelaar is positioned as an example of a facility controlled by a North American company. Future integration could affect regional model projects and the operation of current regulations.