Divestiture of the skincare and wellness brand is aligned with Canopy Growth’s focus on North American cannabis operations
SMITHS FALLS, ON and LONDON, Dec. 18, 2023 /CNW/ – Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NASDAQ: CGC) today announced that the Company has completed the divestiture of its This Works skincare and wellness brand to Inspirit Capital, a London-based investment firm.
Headquartered in London, England, This Works offers a range of high-quality natural skincare and sleep solution products to consumers around the world. In accordance with the completed sale agreement, This Works’ leadership, staff, and intellectual property will transfer to Inspirit Capital.
The transaction is valued at up to £9.3MM ($15.9MM CAD) including cash. Canopy Growth will receive an upfront consideration of £2.7 MM ($4.6 MM CAD) in cash and in other consideration, a loan note issued by the buyer, and a…
