Canopy Growth to buy Supreme Cannabis in $435 M deal

The company that owns 7ACRES near Tiverton has been sold.

The Supreme Cannabis Company has been purchased by Canopy Growth Corporation for $435 M.

Canopy says the acquisition will give it a “strengthened brand portfolio including one of Canada’s leading premium brands, 7ACRES”.

Supreme’s CEO, Beena Goldenberg, says “This transaction is a testament to the value created by all the teams at Supreme, and will be beneficial to all of our stakeholders”.

In a statement, Canopy CEO David Klein says “We’re excited to reach more consumers through Supreme’s premium brands and high-quality products, further solidifying Canopy’s market leadership”.

The deal is expected to close in June.