Organigram Global Acquires Collective Project Limited
Acquisition allows Organigram to enter hemp, cannabis beverage markets.
Organigram Global Inc. has acquired 100% of the issued and outstanding shares of Collective Project Limited.
Collective Project is a brand launched by Collective Arts, a Hamilton, Ontario-based company founded in 2013. Known for blending craft beverages with art, Collective Arts has featured more than 2,000 artists from 40 countries on its products. Collective Project extends this creative ethos into the cannabis market, producing cannabis and hemp-derived infused sparkling juices, teas and sodas.
“The acquisition of Collective Project marks yet another strategic milestone towards Organigram’s global leadership ambitions,” said Organigram CEO Beena Goldenberg. “Not only does this acquisition represent our first commercial entry into the fast-growing hemp-derived THC beverage market in the U.S., it also fast tracks our entry into the cannabis beverage category in Canada, a category that we believe is on the cusp of growth at home as well.”
“We are pleased to be working with Organigram on this transaction as not only Canada’s leading cannabis company but also one that is deeply committed to high-quality products backed by R&D and science-backed innovation,” adds Matt Johnston, Collective Project co-founder. “The Collective Project brand is under good stewardship, and we expect it to flourish as U.S. and Canadian market expansion unfolds.”
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