Leading grower Canopy Growth expands with acquisition

23-04-2021    13:49   |    Greenhouse Grower

Canopy Growth Corporation, one of North America’s largest greenhouse cannabis producers, has announced an agreement to acquire The Supreme Cannabis Company, Inc., a global diversified portfolio of distinct cannabis companies, products, and brands.

The transaction is expected to provide several benefits to both Canopy and Supreme Cannabis shareholders. Notably, following completion of the acquisition, Canopy will possess a strengthened brand portfolio including one of Canada’s leading premium brands, 7ACRES. Brand growth is anticipated with distribution supported by Canopy’s robust sales and distribution network as well as superior consumer insights and R&D capabilities.

In addition to receiving a market premium, Supreme Cannabis shareholders will also benefit from Canopy’s U.S. CBD business and conditional positioning for continued exposure to the U.S. market expansion. Further value will be derived through the scalable Kincardine, Ontario production facility, which has a demonstrated record of producing premium flower at low cost.

“As we continue to expand our leading brand portfolio, we’re excited to reach more consumers through Supreme’s premium brands and high-quality products, further solidifying Canopy’s market leadership,” says David Klein, Chief Executive Officer of Canopy. “Supreme’s deep commitment to superior genetics, top-tier cultivation, and strict quality control, paired with Canopy’s leading consumer insights, advanced R&D, and innovation capabilities, is expected to create a powerful combination that aligns with our strategic focus to generate growth with premium quality products across key categories.”

Specific details on the acquisition are available here.

Source and Photo Courtesy of Greenhouse Grower

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