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Dec 6, 2018

Canopy buys German vaporizer company Storz & Bickel for $220M

David Baskin discusses Canopy Growth

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SMITHS FALLS, Ont. -- Marijuana company Canopy Growth Corp. has signed a deal to buy a German firm that specializes in vaporizer design and manufacturing for about $220 million in cash.

Under the deal, Canopy will pay 145 million euros for Storz & Bickel GmbH & Co. KG.

Based in in Tuttlingen, Germany, the company designs and manufactures of medically approved vaporizers.

Canopy says the German firm has a portfolio of 17 filed patents that will improve its existing vaporizer design operations.

Founders Markus Storz and Jurgen Bickel are expected to remain part of the organization.