The end of the week saw two more big deals:
Canadian operator Canopy Growth, the world’s largest cannabis company, said it would acquire competitor The Supreme Cannabis Company for approximately US$350M.
Reuters
- Canopy CEO David Klein said Supreme and other recent acquisitions, will help Canopy dominate the U.S. market. (Paywall)
Insider - Technical 420 offers seven key takeaways.
- Headset CEO CY Scott said the deal embodies the “premiumization of cannabis.”
Also, Glass House Group, California’s biggest grower, said it would go public in Canada through a $1B+ SPAC deal.
Reuters
- Glass House will take over dispensary Element 7’s dispensaries and acquire a 5.5M square foot tomato greenhouse to grow you know what.
- MarketWatch has more.
Thanks largely to SPACs, cannabiz companies raised more money in Q1 2021 than any quarter since Fall 2019.
MJBiz