Canopy Growth Acquires Storz & Bickel
Canopy Growth Corporation has finalized an all-cash transaction to acquire Storz & Bickel for a purchase price of up to approximately €145 million. With a 22-year track record of breakthrough innovations, Storz & Bickel is widely recognized as the global leader in vaporizer design and manufacturing.
Based in Tuttlingen, Germany, Storz & Bickel are designers and manufacturers of medically approved vaporizers, most notably the Volcano® Medic and the Mighty® Medic. Storz & Bickel has spent the last two decades developing an automated and internationally certified factory, achieving ISO 13485 certification in 2009. The company has exported devices to 50 markets around the world.
The acquisition will see Storz & Bickel’s eponymous founders Markus Storz and Jürgen Bickel remaining as a part of the organization to continue driving the business forward alongside Canopy Growth’s management.
Shane McLean acted as Canadian counsel to Canopy on the deal.
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