Canada's Aurora Cannabis Inc. appointed activist investor and consumer industry veteran Nelson Peltz as a strategic adviser to assist the company in its global expansion.
Peltz is the CEO and founding partner of consumer industry focused New York-based hedge fund Trian Fund Management LP and serves as the nonexecutive chairman of The Wendy's Co., an international restaurant operator. He also serves as a director of consumer giants The Procter & Gamble Co., Sysco Corp. and Madison Square Garden Co.
Aurora Cannabis, which has been expanding globally with relentless acquisitions, will work with Peltz to explore potential partnerships to enter its targeted market segments.
Peltz said he will work with Aurora CEO Terry Booth to evaluate various opportunities, including potential engagement with mature players in consumer and other market segments.
In exchange for agreeing to serve as senior adviser, the company has granted Peltz options to buy 19,961,754 Aurora common shares for C$10.34 per share.
Peltz will provide his advisory services to Aurora through 280 Park ACI Holdings LLC.