Canada-based cannabis company Canopy Growth, through its subsidiary Canopy USA, has completed the acquisition of US-based cannabis edibles brand Wana.
Through the acquisition, which included Wana Wellness, The CIMA Group, and Mountain High Products, Canopy USA fully owns the outstanding equity interests in Wana.
Canopy USA completed the acquisition of around 75% of the shares of Lemurian (Jetty) as announced in June this year.
With the acquisition of Wana and Jetty, Canopy USA fulfils its goal of becoming a brand-focused cannabis company in the US.
Wana and Jetty have selected areas of collaboration, including the setting up of a joint sales force in the New York market, to focus across the edible and vape segments.
Canopy Growth CEO and Canopy USA board of managers member David Klein said: “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 US cannabis market.
“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 US.”
The acquisition follows Wana’s recent launch of Wanderous direct-to-consumer marketplace designed to provide a curated selection of high-quality hemp-derived products.
The products include Delta-9-THC and non-intoxicating CBD gummies from brands such as Wana, Cann, Happi, Charlotte’s Web, Martha Stewart CBD, and MXXN.
As part of the launch, Wana introduced its new line of Wana Beverages, a new line of ready-to-drink, infused sparkling beverages.
The beverages combine hemp extracts, real fruit juice, and other beneficial ingredients, to provide consumers with a new and highly sessionable experience.
The acquisitions of Wana and around 75% of Jetty, followed by the potential acquisition of Acreage Holdings, would provide Canopy USA with significant financial benefits.
Wana Brands president Joe Hodas said: “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.
“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 US states, Wana is continuing its leadership in the North American edibles category with trusted, high-quality product offerings.”
