CANOPY GROWTH TO INDUSTRY: EAT OUR DUST
Noam Galai/Getty Images
Bruce Linton
Bloomberg profiles Bruce Linton, CEO of Canopy Growth, the world’s largest cannabis company.
Linton says he wants to build a company so big that there’s “no question who’s No. 1. [and] It’s difficult to see who’s behind us because they’re so far behind.”
- Canopy has a market cap of roughly $15B on the New York Stock Exchange. In 2018, it notched $120M in revenue. “For sure the opportunity is overstated, but what else is exciting right now?” Linton says.
- Linton doesn’t use cannabis.
- Canopy is developing a product line with Martha Stewart. The first offerings will be for pets. It also has partnerships with Snoop Dogg and Seth Rogen.
- Canopy has more than 3,400 employees, about a third work at its headquarters, a former Hershey’s chocolate factory in Smiths Falls, Ontario.
- Canopy sells MED in nine countries.
- The company says it has about 20 trials planned or underway to test MED’s effects on sleep, pain and mood.
- Before cannabis Linton spend three decades as a serial entrepreneur in divergent industries.
Following a string of acquisitions, Canopy is no longer interested in buying cannabis producers, Reuters reports.
There’s no Seeing Green column in this issue.
[gravityform id="5" title="true" description="false" ajax="true" tabindex=""]
Next week we’ll publish an exclusive WeedWeek interview with Kevin Murphy, CEO of Acreage Holdings, which Canopy plans to acquire for $3.4B upon federal legalization. (Or perhaps sooner.)
Quick Hit
- In a separate piece, Bloomberg suggests the industry needs standards.
- Barron’s says Canopy competitor Aurora could be one of the first big pot companies to turn a profit.
