SMITHS FALLS, ON – Canopy USA LLC has completed its acquisition of Wana Brands, including Wana Wellness LLC, The CIMA Group LLC, and Mountain High Products LLC. Canopy USA now owns 100% of the outstanding equity interests in Wana.
Together with the completed acquisition of approximately 75% of the shares of Lemurian, Inc. (“Jetty”), Canopy USA is fulfilling its ambition of establishing a leading brand-focused cannabis company in the U.S. Wana and Jetty have identified areas of collaboration, including the establishment of a joint sales force in the New York market, focused on category dominance across the edible and vape segments.
“With Wana now part of Canopy USA alongside Jetty, Canopy USA is gaining momentum while reinforcing its commitment to building a diverse portfolio of industry-leading brands in the U.S. cannabis market,” said David Klein, Chief Executive Officer of Canopy Growth and member of the board of managers of Canopy USA. “Completing the acquisition of Wana marks another significant milestone in Canopy USA’s strategy and unlocks new growth opportunities across both state-legal markets and through hemp-derived products across the U.S.”
“This acquisition represents an exciting next step for Canopy USA, as we blend Wana’s expertise in crafting innovative edibles with Jetty’s pioneering developments in vape and extract products,” said Joe Hodas, President, Wana Brands. “With the launch of Wanderous, Wana’s one-stop-shop for premium hemp-derived products, and the expansion of the brand’s core portfolio into new U.S. states, Wana is continuing its leadership in the North American edibles category with trusted, high-quality product offerings.
The completed acquisitions of Wana and approximately 75% of the shares of Jetty, followed by the contemplated acquisition of Acreage Holdings Inc., are expected to enable Canopy USA to realize significant financial benefits, including revenue growth and cost synergies across the Canopy USA ecosystem.
About Canopy Growth
Canopy Growth is a world leading cannabis company dedicated to unleashing the power of cannabis to improve lives.
The company delivers premium and mainstream cannabis brands including Doja, 7ACRES, Tweed, and Deep Space, in addition to category defining vaporizer technology made in Germany by Storz & Bickel.
Beyond its products, Canopy Growth is leading the industry forward through a commitment to social equity, responsible use, and community reinvestment – pioneering a future where cannabis is understood and welcomed for its potential to help achieve greater well-being and life enhancement.
