Canopy Going International with $7.2 Million Acqusition of German Cannabis Distributor

Canada’s cannabis friendly legal and regulatory environment is helping its cannabis companies establish first mover advantages in international markets. Case in point – Canopy Growth Corp (CGC), Canada’s largest medical marijuana company, just purchased MedCann, a German medical marijuana distributor for $7.2 million. Germany is the largest economy in Europe. Although Germany legalized medical marijuana in 2005, actual cannabis production is still illegal – all cannabis products must be cultivated outside of Germany and imported into the country. That creates a great opportunity for Canopy to fill the gap. The acquisition should give Canopy a nice revenue jolt but more importantly a platform to expand its footprint across Europe.