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.