Canopy to Pay $297.5 Million for Edible Maker Wana

Canada’s Canopy Growth has made a deal to buy the leading U.S. edibles maker; Wana Brands, for $297.5 million. The large bet is a sign of confidence that the United States will eventually legalize marijuana.

Ontario-based Canopy said about the acquisition that it is conditioned on “federal permissibility of THC in the U.S.” 

Wana is the No. 1 cannabis edibles brand by market share in North America and is based out of Boulder Colorado.

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