Canopy USA Completes Wana Acquisition
U.S. division of Canopy Growth aims to establish as brand-focused company.
Canopy Growth Corporation confirmed that Canopy USA, LLC has completed its acquisition of Wana, inclusive of Wana Wellness, LLC, The CIMA Group, LLC, and Mountain High Products, LLC. Canopy USA now owns 100% of the outstanding equity interests in Wana.
Together with the completed acquisition of approximately 75% of the shares of Lemurian, Inc. (Jetty) as announced on June 4, Canopy USA aims to establish a brand-focused cannabis company in the U.S. Wana and Jetty have identified areas of collaboration, including the establishment of a joint sales force in the New York market, focused on category dominance across the edible and vape segments.
This announcement follows Wana's recent launch of Wanderous, a direct-to-consumer marketplace designed to offer consumers a curated selection of hemp-derived products, including delta-9-THC and non-intoxicating CBD gummies from brands such as Wana, Cann, Happi, Charlotte's Web, Martha Stewart CBD and MXXN. As part of this launch, Wana introduced a line of Wana Beverages, ready-to-drink infused sparkling beverages that combine hemp extracts, real fruit juice and other beneficial ingredients.
"With Wana now part of Canopy USA alongside Jetty, Canopy USA is gaining momentum while reinforcing its commitment to building a diverse portfolio of industry-leading brands in the U.S. cannabis market," said David Klein, chief executive officer of Canopy Growth and member of the board of managers of Canopy USA. "Completing the acquisition of Wana marks another significant milestone in Canopy USA's strategy and unlocks new growth opportunities across both state-legal markets and through hemp-derived products across the U.S."
"This acquisition represents an exciting next step for Canopy USA, as we blend Wana's expertise in crafting innovative edibles with Jetty's pioneering developments in vape and extract products," added Joe Hodas, president, Wana Brands. "With the launch of Wanderous, Wana's one-stop-shop for premium hemp-derived products, and the expansion of the brand's core portfolio into new U.S. states, Wana is continuing its leadership in the North American edibles category with trusted, high-quality product offerings.
The completed acquisitions of Wana and approximately 75% of the shares of Jetty, followed by the contemplated acquisition of Acreage Holdings, Inc., are expected to enable Canopy USA to realize financial benefits, including revenue growth and cost synergies across the Canopy USA ecosystem.
Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!
