Canopy USA Closes Wana Brands Acquisition Setting The Pace Forward
Canopy Growth Corporation, has announced a significant expansion of its U.S. footprint. Through its subsidiary, Canopy USA, LLC, the company has completed the acquisition of Wana Brands, including Wana Wellness, The CIMA Group, and Mountain High Products. This move grants Canopy USA full ownership of Wana’s outstanding equity interests, solidifying its position in the burgeoning U.S. cannabis market.
This acquisition follows Canopy USA’s earlier purchase of approximately 75% of the shares of Lemurian, Inc., better known as Jetty, in June 2024. With Wana and Jetty now under its umbrella, Canopy USA is accelerating its strategy to become a leading brand-focused cannabis company in the United States. The two brands are already exploring collaborative opportunities, such as establishing a joint sales force in New York to dominate the edible and vape segments.
Adding to the excitement, Wana recently launched Wanderous™, a pioneering direct-to-consumer marketplace. Wanderous offers consumers a curated selection of high-quality hemp-derived products, including Delta-9-THC and non-intoxicating CBD gummies from top brands like Cann, Happi, Charlotte’s Web, Martha Stewart CBD, and MXXN. Wana also introduced Wana Beverages, a new line of ready-to-drink infused sparkling beverages that combine hemp extracts with real fruit juice and beneficial ingredients. This offers consumers a refreshing and sessionable way to enjoy Wana’s products.
David Klein, CEO of Canopy Growth and a member of Canopy USA’s board of managers, expressed enthusiasm about the acquisition. “With Wana now part of Canopy USA alongside Jetty, we’re gaining momentum while reinforcing our commitment to building a diverse portfolio of industry-leading brands in the U.S. cannabis market,” he said. “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 U.S.”
Joe Hodas, President of Wana Brands, echoed this sentiment. “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,” he stated. “With the launch of Wanderous and the expansion of our core portfolio into new U.S. states, Wana continues its leadership in the North American edibles category with trusted, high-quality product offerings.”
Looking ahead, Canopy USA plans to further expand its portfolio with the anticipated acquisition of Acreage Holdings, Inc. This series of strategic moves is expected to yield significant financial benefits, including revenue growth and cost synergies across Canopy USA’s ecosystem. By consolidating these industry leaders, Canopy is positioning itself to capitalize on the evolving U.S. cannabis landscape, leveraging brand strength and innovative product lines to capture market share.
Investors and industry observers will be watching closely as Canopy Growth continues to execute its U.S. expansion strategy. The integration of Wana and Jetty not only enhances Canopy’s product offerings but also signifies a bold step toward establishing dominance in key market segments like edibles and vapes. With regulatory landscapes shifting and consumer demand growing, Canopy Growth’s latest acquisitions could be a game-changer in the competitive cannabis industry.
