Canopy Growth Corporation, a major North American cannabis firm, has confirmed that its Jeffco-based arm Canopy USA, LLC is exercising options to acquire cannabis companies Wana and Jetty. Following the acquisition, Canopy USA is set to realize significant financial gains, including enhanced revenue growth and cost efficiency.
“With these acquisitions now triggered, Canopy USA has taken a crucial step forward in bringing together these high potential businesses and will soon be able to demonstrate the full potential of this ecosystem across the U.S. cannabis market,” said David Klein, Chief Executive Officer of Canopy Growth.
The company stressed there is no additional cost to Canopy USA upon exercising the options for the acquisitions. Wana, a leader in cannabis edibles and particularly popular for its gummies is vertically integrated in Colorado and operates in 15 additional U.S. states. On the other hand, Jetty, based in California, is renowned for its high-quality cannabis extracts and vaping technology. It occupies a strong place in markets including California, Colorado, New York, and New Jersey.
The deal’s closure is subject to common closing conditions, including the receipt of regulatory approvals. Post the initial closing, Canopy USA will fully own Wana and hold approximately 75% of the outstanding shares in Jetty.
Canopy Growth Corporation is widely recognized for its commitment to its consumers and the value it brings through innovative products and brands like Doja, 7ACRES, Tweed, and Deep Space. Its portfolio boasts gourmet wellness products by Martha Stewart and vaporizer technology by Storz & Bickel, among others. The company is particularly focused on creating a comprehensive ecosystem to realize the opportunities offered by the U.S. THC market, making the acquisitions of Wana and Jetty key to that strategy.
About Canopy Growth: Canopy Growth is a leading North American cannabis firm committed to leveraging the power of cannabis to improve lives. Visit https://www.canopygrowth.com/ for more information.
Source: Press Release