News

Canopy Growth Sells Off Its Canadian Retail Operations

Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC), a cannabis consumer product company, is divesting its retail operations across Canada. The Smith Falls, Ontario-based company will cease operating its Tweed and Tokyo Smoke stores.

Existing Canopy Growth licensee partner, OEG Retail Cannabis, that owns and operates the Canopy Growth’s franchised Tokyo Smoke stores in Ontario, has agreed to acquire ownership of the 23 Tokyo Smoke and Tweed store locations across Manitoba, Saskatchewan, Newfoundland and Labrador, as well as all Tokyo Smoke-related intellectual property.

Canopy Growth also reached an agreement with 420 Investments Ltd. to acquire the ownership of its five retail locations in Alberta. The stores will be rebranded under FOUR20’s retail banner.

Canopy Growth will continue to own and operate the Tweed brand — one of the industry’s highest impact brands. The company says it is focusing on streamlining its Canadian operations to advance its premium brand-driven portfolio.

“We are taking the next critical step in advancing Canopy as a leading premium brand-focused CPG cannabis company while furthering the Company’s strategy of investing in product innovation and distribution to drive revenue growth in the Canadian recreational market,” said David Klein, CEO, Canopy Growth.

Brad Cheng

Brad Cheng is the digital editor of Global Cannabis Times, produced by SmartWork Media. Brad's journalism career spans working as an editor for PR Newswire, The Nation and The Santa Barbara News Press, and as Managing Editor of The Katy Courier, and publisher of Now This in Princeton. His career as a screenwriter took him into entertainment advertising, writing major film campaigns for studios and for HBO.

Recent Posts

Ohio’s Move to Adult-Use Sales Could Be Record-Setting

Approval of adult-use sales expected to ignite rapid expansion in Ohio's cannabis market.

2 months ago

Cannabis Investor Focus Shifts to Retail

A Data-Based Analysis of Location Strategies That Are Starting to Pay Off

2 months ago

More Hot Air? President’s SOU Speech Fails to Impress Cannabis Rights Groups

Last Prisoner Project and American Cannabis Collective want more action, not more words.

2 months ago

The Global Cannabis Times Interview with Raj Grover, Part 2

High Tide, Inc. CEO’s Journey from an Entrepreneurial Family in Mumbai to Cannabis Industry Leader.

5 months ago

The Global Cannabis Times Interview with Raj Grover, Part 1

High Tide, Inc. CEO’s Journey from an Entrepreneurial Family in Mumbai to Cannabis Industry Leader.

5 months ago

Japan Legalizes Medical Cannabis Products, Tightens Drug Laws

New legislation paves the way for cannabis-based medicines while strengthening prohibitions against recreational use.

5 months ago

This website uses cookies.