Greenhouse Canada

News Cannabis
Canopy Growth to acquire Supreme Cannabis


April 8, 2021
By Canopy Growth (edited)

Topics
Canopy Growth has announced a definitive agreement to acquire The Supreme Cannabis Company. (CNW Group/Canopy Growth Corporation)

Canopy Growth Corporation announced its acquisition of The Supreme Cannabis Company, Inc. in a transaction valued at approximately $435 million.

The transaction is expected to provide several benefits to both Canopy and Supreme Cannabis shareholders. Notably, 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 sales and distribution network as well as its consumer insights and R&D capabilities. In addition to receiving a market premium, Supreme Cannabis shareholders “will also benefit from Canopy’s US CBD business and conditional positioning for continued exposure to the U.S. market expansion,” states the press release.

Advertisement

Further value will be derived through the scalable Kincardine, Ont. hybrid-greenhouse cultivation facility, which has a demonstrated record of producing premium flower at low cost.

Combined pro forma market share is estimated to be 23.3% of the premium flower segment in Ontario and 21.4% in British Columbia.

See the full release here


Print this page

Related

Tags



Leave a Reply

Your email address will not be published. Required fields are marked *

*