Michigan's Skymint Acquired Out Of Receivership
Portfolio Pulse from Jelena Martinovic
SunStream Bancorp Inc. has announced the acquisition of certain assets of Greenpeak Industries Inc. and affiliated entities doing business as Skymint. The assets were acquired by Skymint Acquisition Co., a new entity of Tropics L.P., which is fully owned by an affiliate of Sunstream, a joint venture sponsored by SNDL Inc. (NASDAQ:SNDL). The acquisition is part of Skymint's ongoing restructuring and is expected to close in the first quarter of 2024.
October 13, 2023 | 4:38 pm
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SNDL Inc. is involved in the acquisition of Skymint's assets through its joint venture, Sunstream. This move is part of Skymint's ongoing restructuring and could potentially impact SNDL's position in the market.
The acquisition of Skymint's assets by a joint venture sponsored by SNDL Inc. could potentially strengthen SNDL's market position. However, the final impact will depend on the successful completion of the acquisition and the subsequent performance of the acquired assets.
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