Canopy Growth Corporation, listed as CGC and WEED.TO, announced on Tuesday that its subsidiary, Canopy USA, LLC, has decided to go ahead with the acquisition of two businesses namely Wana and Jetty.
The company anticipates these purchases will present considerable financial benefits for Canopy USA, including revenue enhancement and cost synergies throughout the Canopy USA network.
"As we complete these acquisitions, Canopy USA has made an essential stride in amalgamating these promising businesses, positioning us to fully demonstrate the potential of this network within the U.S. cannabis market," stated David Klein, the CEO of Canopy Growth. "The promising signs we see on imminent regulatory reform in the U.S., combined with the significant potential of integrating leading brands like Wana and Jetty, makes us eager to see how these brands can work together to further strengthen each other."
Wana, a top cannabis edibles brand in North America, boasts vertical integration in Colorado and a fast-expanding licensing division that extends to 15 additional U.S. states and territories. On the other hand, Jetty is a California-based manufacturer of high-grade cannabis extracts and a trailblazer in clean vape technology.
