Bruce Linton

Bloomberg profiles Bruce Linton, CEO of Canopy Growth, the world’s largest cannabis company.

Linton says he wants to build a company so big that there’s “no question who’s No. 1. [and] It’s difficult to see who’s behind us because they’re so far behind.”

  • Canopy has a market cap of roughly $15B on the New York Stock Exchange. In 2018, it notched $120M in revenue. “For sure the opportunity is overstated, but what else is exciting right now?” Linton says.
  • Linton doesn’t use cannabis.
  • Canopy is developing a product line with Martha Stewart. The first offerings will be for pets. It also has partnerships with Snoop Dogg and Seth Rogen.
  • Canopy has more than 3,400 employees, about a third work at its headquarters, a former Hershey’s chocolate factory in Smiths Falls, Ontario.
  • Canopy sells MED in nine countries.
  • The company says it has about 20 trials planned or underway to test MED’s effects on sleep, pain and mood.
  • Before cannabis Linton spend three decades as a serial entrepreneur in divergent industries.

Following a string of acquisitions, Canopy is no longer interested in buying cannabis producersReuters reports.

There’s no Seeing Green column in this issue.

Next week we’ll publish an exclusive WeedWeek interview with Kevin Murphy, CEO of Acreage Holdings, which Canopy plans to acquire for $3.4B upon federal legalization. (Or perhaps sooner.)

Quick Hit

  1. In a separate piece, Bloomberg suggests the industry needs standards.
  2. Barron’s says Canopy competitor Aurora could be one of the first big pot companies to turn a profit.