SNDL-backed vehicle takes control of Parallel assets after debt restructuring

A Sunstream-backed vehicle completed a creditor foreclosure of Parallel assets, extinguishing about $842 million of debt and giving SNDL indirect majority economic exposure to 56 retail locations and three cultivation and manufacturing facilities in Florida, Texas and Massachusetts. For Oklahoma operators, the deal shows how distressed cannabis debt can convert into multistate ownership scale, and how medical and adult-use assets may be separated to navigate exchange and federal compliance.