Storz & Bickel GmbH & Co. KG is now officially a part of Canopy Growth Corporation. The acquisition deal was closed last week for €145 million in an all-cash settlement. Canopy Growth will own all Storz & Bickel subsidiaries together with its IP.
Storz and Bickel is one of the pioneers in the vaporizer design and technology and have operated for more than two decades. The company is a proud holder of more than 17 vaporizer-related patents. Their products like Volcano® Medic and the Mighty® Medic gained world-wide popularity and have been officially approved for medical use. The German-based company markets its products across 50 countries globally.
“Joining Canopy will enable S&B to take the next significant development step forward. Access to Canopy Growth’s extensive portfolio of test laboratories as well as pharmaceutical and medical-scientific know-how opens up entirely new product development opportunities,” said S & B founders Markus Storz and Jürgen Bickel, who will remain part of the organisation to help develop and market products and offer their expertise to Canopy Growth.
“We view this as a marquee acquisition of the most recognised technology company in the industry,” said Bruce Linton, Chairman & Co-CEO, Canopy Growth. “This Company is well positioned for the next wave of federally regulated products in Canada beyond dried flower and edible oils. By combining Canopy’s existing designs and Canada’s open environment for federally permissible R&D with Storz & Bickel’s deep IP portfolio and management team, Canopy Growth is poised to lead the high-margin vaporizing category around the world.”
This acquisition is one of the largest ones to go down in the cannabis sector this year. What will be next?