New strategic adviser
Early on March 13, Aurora Cannabis (ACB) announced that it appointed Nelson Peltz, a billionaire businessman, as its new strategic adviser. The company said that Peltz will provide his expertise and assist Aurora Cannabis in exploring strategic partnerships and an international expansion strategy.
Aurora Cannabis stock
Aurora Cannabis stock was trading nearly 11% higher in the pre-market session. The company has returned 57% year-to-date. The Horizons Marijuana Life Sciences ETF (HMMJ) has returned more than 54%, which you can see in the above chart.
Peltz has an established track record of acquiring companies through Trian Fund Management—his investment management firm. He has been associated with several big names in the industry. Currently, Peltz serves as the director at Procter & Gamble, The Madison Square Garden Company, and Sysco. In the past, Peltz owned Snapple Beverage Group, which he sold to Cadbury Schweppes.
The addition will bring more power to the consumer side of Aurora Cannabis’s business. Aurora Cannabis plans to make a deep foray into the recreational consumer space in Canada and the US since hemp is legal in the country.
In the press release, Peltz said, “I look forward to working with Terry and the extended Aurora team to evaluate its many operational and strategic opportunities, including potential engagement with mature players in consumer and other market segments.”