Canopy Growth to buy Tokyo Smoke owner for $269 mln: Reuters
Canada’s Canopy Growth Corp is buying Toyko Smoke cannabis owner Hiku Brands Co Ltd for $269.2 million, the latest deal in a fast-consolidating sector ahead of legal recreational marijuana sales, Reuters reported. West Kelowna, British Columbia-based Hiku owns cannabis lifestyle brands such as Tokyo Smoke, DOJA and Van der Pop. The equity value of the deal is based on 140.95 million outstanding Hiku shares, according to Thomson Reuters. Before becoming part of Hiku in 2017, Tokyo Smoke was backed by Aphria Inc, Green Acre Capital, Globalive Capital and other investors.
11 July 2018•2 mins read
