Marshall Fields takes a majority stake in CannTrust

Marshall Fields International BV, an Amsterdam-based holding company, and a group of individual investors recently completed the acquisition of 90 per cent of CannTrust Equity, a new subsidiary of CannTrust Holdings, and holder of the company’s cannabis licences through its operating division, CannTrust Inc.

The 10 per cent of the outstanding common shares will be retained by shareholders through CannTrust Holdings, the public division of the company, which was previously listed on the Toronto and New York stock exchanges.

CannTrust filed to restructure under the Companies’ Creditors Arrangement Act (“CCAA”), in 2020, after it was found to have been violating Heath Canada compliance rules. In February 2022, the Ontario Court of Justice approved the proposed transaction pursuant to the CCAA allowing the Company to exit from its CCAA proceedings.

Marshall Fields is a subsidiary of Kenzoll BV, a special purpose investment vehicle invested in cannabis, energy and technology companies. Kenzoll, which is based in Amsterdam and is controlled and managed by Corné Melissen, an investor and executive with more than 30 years of experience in the field, is a recent carve-out of Dutch multi-billion investment firm Ramphastos Investments Management.

The BCF team that represented Marshall Fields was led by Mireille Fontaine and included Vincent GaribaldiMarvin PavotJean-Christophe ImbeauLaurence Babin (Mergers & Acquisitions and Securities Law), Bertrand Giroux (Insolvency & Restructuring), Martin SillsAshley Weiss (Financing) and Marc-André Godard (Taxation).

To read the press release: please click here.

Contributing Advisors

Gilles Seguin

Partner,
BCF