The biggest of Canada's booming pot growers, Canopy Growth Corp, has furthe...
- The biggest of Canada’s booming pot growers, Canopy Growth Corp, has further to go on a string of acquisitions that has seen it suck up at least 12 smaller firms in a year, but it is done buying other producers, Chief Executive Officer Bruce Linton said.
Constellation is betting in part on the promise that federal legislation might eventually follow moves by state governments in the United States to legalize, opening the door to legal production countrywide, and there have been tentative signs that others may follow. He also said his own firm had bought as many producers as it needed and would focus instead on companies that may provide synergies with his central business of growing the plant.
Canopy acquired medicinal marijuana producers in South America and Africa last year, and in April secured the right to buy New York based Acreage Holdings Inc for $3.4 billion if the United States legalizes production and sale of cannabis.The pot industry has seen a string of deals in recent months buoyed by the possibility of cannabis-infused products becoming legal at a federal level in the United States.
Linton was confident in the scale his company had developed so far and said other producers would have to merge to compete or pique the interest of other investors.
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