London skin-care firm is newest hemp play by Canadian marijuana producer
Industrial Hemp NewsInternational NewsMarijuana Laws, Regulations, & Politics May 22, 2019 MJ Shareholders 0
A London skin-care company is the latest acquisition for Canada’s Canopy Growth, a marijuana producer that is deploying capital around the globe to gain traction for its hemp-derived CBD products.
Canopy announced Wednesday it spent 43 million pounds ($54 million) to purchase This Works, which makes skin-care products and a sleep-aid pillow spray.
This Works does not currently offer CBD-infused products.
The all-cash transaction, which gives Canopy ready access to the European Union through a skin-care brand that is already sold there, is “a key aspect of a multifaceted hemp and CBD strategy,” according to Canopy.
Canopy is based in Smiths Falls, Ontario, and trades on the New York Stock Exchange as CGC.
Subscribe to our Newsletter
MJ Shareholders
MJShareholders.com is the largest dedicated financial network and leading corporate communications firm serving the legal cannabis industry. Our network aims to connect public marijuana companies with these focused cannabis audiences across the US and Canada that are critical for growth: Short and long term cannabis investors Active funding sources Mainstream media Business leaders Cannabis consumers
No comments so far.
Be first to leave comment below.