Canopy Growth buys edibles company Wana for $297 million

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A pretty huge merger went under our radar last month, with Canopy Growth, the biggest marijuana company in Canada, buying up a Colorado-based edibles company Wana. They are the number one edibles brand in North America, so Canopy Growth’s interest is certainly warranted.

This comes at a time where more and more Canadian companies are making moves in the US to solidify their head-start in the national market, whenever that opens up.

This is a long road of acquisition for the company, since they aren’t able to buy a company that breaks US federal law. For now, they’ve called dibs on Wana, and will buy all of their entities when they’re able.

“As we establish Canopy Growth as the world’s leading cannabis company, acquiring the #1 cannabis edibles brand in North America will serve to strengthen our market position in both Canada and the United States,” says Canopy CEO David Klein.

Read the original announcement at MJBizDaily.

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