Canopy Snaps Up Indiva

MJ Biz reports

Canadian cannabis producer Canopy Growth has reached a deal to acquire a 19.99% stake in edibles maker Indiva, while also gaining control of all distribution and sales of Wana branded products in Canada.

Wana is one of the top cannabis edibles brands in North America.

The deal helps Indiva and Canopy avoid a potentially messy fight involving the Wana brand.

As part of the deal, Canopy and India entered into a license arrangement providing Canopy with exclusive rights to manufacture, distribute and sell Wana products in Canada.

The two companies have entered into a contract manufacturing agreement under which Canopy is granting Indiva the exclusive right to manufacture and supply Wana branded products in Canada for five years.

Canopy said that is consistent with its “asset light” strategy.

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