Billionaire Nelson Peltz joins Aurora Cannabis as strategic adviser


The activist investor will counsel the company on strategic partnerships. In exchange, he will receive stock options that, if exercised, would make him the Canadian marijuana producer’s second largest shareholder. Following the news, the company’s stock rose 12 per cent in early trading. (Bloomberg, CNBC)

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Talking point: Peltz will help Aurora—Canada’s second biggest cannabis company by market cap—in an area where it has lagged behind its competitors: partnerships with consumer goods giants. The billionaire investor holds large stakes in Procter & Gamble and snack-food firm Mondelēz International. Other cannabis firms have done a number of deals with more established firms in adjacent industries to develop new products and access their marketing and distribution experience. Market leader Canopy Growth and fourth-place Cronos have received investments from alcohol company Constellation Brands and cigarette-maker Altria, respectively.