One of Canada’s largest cannabis company just got a little bit bigger.
Canopy Growth Corp. has signed a deal to buy Supreme Cannabis Company Inc. in an all-stock deal valued at $435 million, reports the Canadian Press.
The deal follows last week’s announcement that Canopy had acquired Ace Valley, a Toronto company that produces pre-rolls, vapes and edibles.
In the latest deal, Canopy will acquire Supreme’s host of brands, including 7Acres, Blissco and Sugar Leaf, among others.
Canopy also acquires Supreme’s hybrid-greenhouse cultivation facility in Kincardine, Ont. In a press release, Canopy noted that the “scalable production facility” 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,” David Klein, Canopy’s CEO, says
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