Cronos Completes Acquisition of CanAdelaar

Cronos Group Inc. has officially completed the acquisition of Dutch-based CanAdelaar B.V. Cronos is a global cannabis company operating exclusively within legalized and regulated markets.

CanAdelaar is one of the leading producers in the Dutch adult-use cannabis pilot program (the "Wietexperiment"). Operating from its greenhouse facility in Voorne aan Zee, the company supplies participating coffeeshops across the pilot municipalities. Day-to-day operations remain under the leadership of the current Dutch management team, with CanAdelaar founder Christopher Martens appointed as General Manager of Cronos Netherlands.

Through this acquisition, Cronos demonstrates a long-term commitment to the Dutch pilot program, which the company views as an important international model for a regulated, safe, and transparent supply chain. Cronos attaches great value to an open dialogue and strong relationships with all stakeholders involved: from local residents in Voorne aan Zee and participating coffeeshops to municipal and national authorities.

"We are delighted that the acquisition is now completed," says Mike Gorenstein, CEO of Cronos Group. "The Dutch cannabis experiment is a well-designed and thoughtfully established program, and we are happy to participate in. At Cronos, we look forward to supporting the team in Voorne aan Zee in delivering consistent quality, with a continued focus on our social responsibility and the local community. We look forward to serving as a reliable partner in driving the continued success of the experiment."

For more information about Cronos and the acquisition, read the press release.