Canopy Growth’s latest acquisition
On December 6, Canopy Growth (WEED) acquired Storz & Bickel, a German vaporizer company, for nearly 145 million euros. The acquisition comes at a time when Canopy Growth stressed the future of the cannabis industry (HMMJ) where companies offer a wider variety of products.
In its press release, Canopy Growth stated that Storz & Bickel’s most notable vaporizer products include Volcano Medic and Mighty Medic as we see in the above chart. Canopy Growth added that Storz & Bickel spent two decades developing an ISO 13485 certified company with an export market in more than 50 markets globally. Markus Storz and Jürgen Bickel, the founders of Storz & Bickel, will still be part of the company following Canopy Growth’s acquisition.
Jürgen Bickel, the company’s CEO, said, “Joining Canopy will enable S&B to take the next significant development step forward. Access to Canopy Growth’s extensive portfolio of test laboratories as well as pharmaceutical and medical-scientific know-how opens up entirely new product development opportunities.” Storz & Bickel hold 17 patents.
With the acquisition, Canopy Growth’s portfolio continues to get richer with a variety of products and intellectual property patents. Aurora Cannabis (ACB) (ACBFF), Cronos Group (CRON), and Tilray (TLRY) face a steep challenge against Canopy Growth’s acquisition spree.