Canopy Growth Corp. of Smiths’ falls has made a $426-million deal to buy Supreme Cannabis of Kincardine and Langley, B.C. as it gears up to increase sales to the United States.
Ontario is opening more retail stores and more states in the United States are moving to legalize recreational marijuana.
Canopy will continue to push for a higher share of the Canadian market while it prepares for a U.S. entry, said chief executive officer David Klein in an interview with Reuters news agency.
“We’re a Canadian company… we’re going to use Canada as that kind of solid home base for us to be able to then bring our capabilities and our brands into the U.S. market as it opens,” Klein said.