Canopy Growth acquires Acreage Holdings
Canadian cannabis company Canopy Growth agreed on Tuesday to acquire all the issued and outstanding Class E shares of Acreage Holdings, paving the way for a full takeover of the company.
Canopy has also recently acquired Wana Wellness and Jetty, In a press release, CEO David Klein described these as «major advances in line with the strategy defined by Canopy Growth».
«With the acquisition of Jetty and two of Wana's three business units, Canopy USA is demonstrating its execution capabilities, and we expect these actions to drive growth and the realization of business synergies across Canopy USA's operating platform,» said David Klein.
The closing of the Acreage acquisition remains subject to conditions. Canopy will also acquire Acreage's $99.8 million in outstanding debt in exchange for $69.8 million in cash and the release of approximately $30.1 million. that were blocked under the agreement.
«We're excited to see this operation move forward as more of Canopy USA's priority markets become available to adults in the Midwest and Northeast,» David Klein said.
Another Canopy acquisition - that of Mountain High Products, a distributor of’edibles- should be finalized in the first half of fiscal 2025.
Restless Legs Syndrome: Cannabinoids Show Promising Results, but the Evidence Remains Weak
What if CBD enhanced the effects of THC? A comprehensive analysis challenges a common misconception
Medical cannabis: A U.S. study finds a 6.9% reduction in absences from work
Andorra Paves the Way for Medical Cannabis Cultivation
Aurora Rejects Curaleaf's Hostile Bid and Opens the Door to Other Suitors
Cannabis in Quebec: The 21-Year-Old Age Requirement in the Spotlight
Drought: Could Hemp Become the New Hope for French Farmers?
United States: Congress Rejects Ban on THC Derived from Hemp
Quick Hit August 2026: What We Missed in Recent Weeks
U.S. Congress Comes to the Rescue of THC-Infused Beverages
-
Business3 weeks agoNew York Opens Its Farmers' Markets to Small-Scale Cannabis Producers
-
Cannabis in Africa4 weeks agoRwanda: A New License Revives the Country's Ambitions in Medical Cannabis
-
Cannabis in India4 weeks agoIndia Approves a Synthetic CBD Drug for Anxiety
-
Cannabis in Europe4 weeks agoThe EU Simplifies Regulations Governing Hemp Cultivation
-
Cannabis in the U.S.3 weeks agoU.S. Congress Comes to the Rescue of THC-Infused Beverages
-
Business4 weeks agoCuraleaf Announces a Takeover Bid for Aurora Cannabis
-
Cannabis in Europe2 days agoAndorra Paves the Way for Medical Cannabis Cultivation
-
Cannabis in France3 days agoDrought: Could Hemp Become the New Hope for French Farmers?
You must be logged in to post a comment Login