Hershey Canada Ltd. Is buying back its 700,00-square-foot plant in Smith Falls for $53 million.
Canopy Growth sold it to reduce its debt and improve its troubled finances.
Canopy Growth closed the marijuana-growing facility in February as part of down-sizing that involved laying off 800 employees, 35 per cent of its workers.
It also announced plans to consolidate its operations in Kelowna, B.C., and Kincardine, Ont. It also has a plant at Mirabel, Que.
Hershey chief executive Todd Scott said buying the plant is a strategic acquisition” that will improve its “supply chain network.”
When it closed the plant in 2017, it rocked the community where it was the dominant employer.
