Canadian LP moves into Spain
April 16, 2019 By Canopy Growth (edited)
Canopy Growth has acquired Spain-based licensed producer Cáñamo y Fibras Naturales, S.L (‘Cafina’).
Cafina is one of three companies in Spain authorized to cultivate, distribute and export cannabis containing more than 0.2% of tetrahydrocannabinol (THC) for medicinal and research purposes, and does so today in a 1,600 sq. ft. greenhouse.
Canopy Growth also has an existing partnership with a second licensed producer in Spain that produces cannabis flowers for the company.
Elsewhere in Europe, Canopy Growth has a 430,000 square foot production site in Odense, Denmark and an ISO 13485 certified Storz and Bickel facility in Tütlingen, Germany.
“Operating multiple production assets within Europe will allow us to increase revenue in the EU free of supply constraints,” commented Mark Zekulin, president & co-CEO of Canopy Growth. “This strategic acquisition in a scalable, low-cost production environment diversifies our owned production capabilities in Europe, similar to our approach in Canada where we have production facilities in seven different provinces. Adding Cafina will allow us to quickly build out our presence in Spain using its existing cultivation licence as a launch pad, while ensuring our Canadian footprint – the largest in the world – can continue to serve the medical and recreational needs of Canadians.”
Founded in 2014, Cafina is based in the Province of Alicante in Spain. With a focused team, Cafina has already established a small greenhouse for research-related medical cannabis production in addition to focusing on crop-related R&D and the sale of hemp seed.
Cafina received its general and research licence in November 2018 from the Spanish Agency for Medicines and Health Products (AEMPS) and had previously been granted a hemp licence which authorized the cultivation of cannabis sativa (<0.2% THC) and small-scale extraction of cannabinoids for research purposes. Cafina CEO, Xavier Delas Martinez will continue managing the site as Canopy Growth injects capital in order to scale the operation through 2019.
Canopy Growth has operations in over a dozen countries across five continents.
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