Canapy Growth acquires Storz & Bickel for $165 million
Huge news today about one of the biggest vaporizer companies in the world. Storz & Bickel is largely known around these parts for making the best vaporizers on the market — the company’s Volcano is legendary, and the portable Mighty often tops best-of lists as the best portable vaporizer on the market (in fact, S&B, if you’re reading this, we’d love a test unit to review here!). So it’s pretty big news that Storz & Bickel has been acquired, in whole.
Canopy Growth is a Canadian company started up in 2013 to make and sell cannabis, and in addition to picking up companies around the industry, the company has been right in the middle of legalization in Canada. They’ve announced that they’re buying S&B out completely, to the tune of a whopping €145 million, or $165 million. That’s a big buy, and a big get for Canopy. Storz & Bickel’s founders are staying with the company, and they say the deal is almost as good for them as it is for Canopy. Canopy will get access to Storz & Bickel’s excellent experience creating great products, and Storz & Bickel will get to leverage Canopy’s grow sites, test laboratories, and scientific knowledge.
Hopefully, both sides will be able to keep the quality high! Storz & Bickel’s reputation in the industry is unmatched, and we’ll have to see if Canopy can continue to keep the name going strong. If things go well, we might all get to benefit from this pairing of these two big players together.