Canopy Growth acquires Ace Valley cannabis in bid to grow brand loyalty
by Tara Deschamps, The Canadian Press
Posted Apr 1, 2021 8:09 am EDT
Last Updated Apr 1, 2021 at 8:27 am EDT
SMITHS FALLS, Ont. Canopy Growth Corp. has purchased AV Cannabis Inc. in a bid to build more brand loyalty with customers.
The Smiths Falls, Ont.-based cannabis company says it has acquired Ace Valley, a Toronto company that makes vapes, gummies and pre-rolls.
Financial terms were not immediately available.
Rade Kovacevic, Canopy’s president and chief product officer, said his company was keen on the deal because its stores were among the first to stock Ace Valley, which quickly revealed the strength of the brand.
Ace Valley | Benzinga
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Canopy Growth acquires AV Cannabis Inc
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Canopy Growth Climbs, Completes Acquisition of Ace Valley
Ontario-based Ace Valley specializes in pre-rolled and pre-packaged cannabis products.
Author:
Shares of Canadian cannabis company Canopy Growth Corp. (
CGC) - Get Report were rising in morning trading Thursday after it announced the completion the acquisition of 100% of AV Cannabis, one of Ontario s leading cannabis brands.
Ace Valley provides a line of pre-rolled and ready-to-enjoy cannabis products that have a foothold with millennial and Gen Z consumers. The team at Ace Valley has built a premium cannabis brand, with an impressive consumer following and we re excited to deploy the full distribution power of Canopy Growth to expand the brand to consumers across Canada, said Canopy CEO Rade Kovacevic.