Canopy buys German vaporizer company

SMITHS FALLS, ONT. — Marijuana company Canopy Growth Corp. has signed a deal to buy a German firm that specializes in vaporizer design and manufacturing for about $220 million in cash. Under the deal, Canopy will pay 145 million euros for Storz & Bickel GmbH & Co. KG. Based in Tuttlingen, Germany, the company designs and manufactures medically approved vaporizers. Canopy says the German firm has a portfolio of 17 filed patents that will improve its existing vaporizer design operations. Founders Markus Storz and Jürgen Bickel are expected to remain part of the organization.