Canopy buys Ger­man va­por­izer com­pany

The Standard (St. Catharines) - - Business -

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.

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