Canopy Growth to acquire Quebec-based MTL Cannabis

Canopy Growth announced its intention to acquire MTL Cannabis, a Quebec-based producer renowned for its artisanal approach, in a transaction valued at around 125 million Canadian dollars.

If completed, this transaction would dramatically reshape the Canadian landscape, positioning Canopy as the largest operator in the world. medical marijuana of the country, while strengthening its presence in key adult markets.

The transaction remains subject to shareholder, regulatory and court approvals, and is expected to close in early 2026.

A strategic offensive

For Canopy Growth, This acquisition is part of a broader strategy to focus on profitable segments, in particular the medical marijuana and international markets. MTL Cannabis has built a solid reputation with consumers and retailers alike, particularly in Quebec, Canada's second-largest cannabis market.

MTL's portfolio includes dried flowers, pre-rolls and hashish marketed under the brands MTL, Low Key by MTL and R'Belle, exclusive to Quebec.

The agreement would also enable Canopy to strengthen its operational presence in Quebec, by adding two cultivation facilities and strengthening local brand credibility in a province where consumer preferences and retail dynamics differ considerably from other regions.

In its last year, MTL generated $84 million in sales.

Beyond Canada, this acquisition is designed to support the’Canopy's growing exposure at european medical cannabis markets, where demand continues to grow, and in Australia.

Both companies emphasize continuity as the cornerstone of the agreement. Key members of the MTL management team are expected to remain in place, contributing their expertise in cultivation, genetic selection and operational discipline.

«MTL brings skilled operators, strong brands and a profitable business that will reinforce our leadership in the Canadian medical market and deepen our presence in key Canadian adult markets, including Quebec. Their cultural expertise, combined with our national reach, will enable us to improve product quality, broaden our offering and accelerate profitable growth. Together, we're building a stronger, more competitive Canadian company for the long term. Luc Mongeau, CEO of Canopy Growth.

As for MTL, the co-founder Richard Clément emphasized the alignment of the two companies' philosophies, and the opportunity to expand craft production through Canopy's national distribution network.

If approved, the transaction between Canopy and MTL will constitute one of the most important consolidation operations in recent years in the now mature Canadian cannabis sector.