Canopy Growth gets into the skincare game with acquisition of This Works

May 24, 2019 Facebook Twitter LinkedIn Google+ Brands On The Move

Canopy Growth (Canopy) continues on its growth spree earlier in the week appointing a new CFO.  Canopy has acquired UK-based This Works which offers a range of high-quality natural skincare and sleep solution products. that have rewarded the company with a loyal following of customers purchasing their best-known products including deep sleep pillow spray, morning expert hyaluronic serum, and skin deep dry leg oil.

Through their unique approach of formulating solutions that work in harmony with the 24hr body clock, This Works has evolved its product lines beyond a traditional viewpoint to a more complete regimen that maximizes skin – and overall wellness – at every phase of the day, starting with a good night’s sleep. This acquisition is a key aspect of a multi-faceted hemp and CBD strategy as Canopy Growth continues to build upon its vertically-integrated production and marketing platform, that currently includes thousands of acres of hemp production across several continents, hundreds of millions of dollars of capital investment into hemp-derived CBD production and processing, rapid expansion across the European Union and other key regions, and the introduction of new CBD-infused products and brands to the global beauty, wellness, and sleep solution space.  This Works CEO, Dr. Anna Persaud, will remain at the helm of business operations post-acquisition to continue moving the company forward.

In addition to strengthening Canopy Growth’s product offering, bringing This Works “under the canopy” will enhance the Company’s international footprint and operations within the United Kingdom. In January 2019, the Company announced Spectrum Biomedical UK, a joint venture between Canopy Growth Corporation and Oxford-based research company Beckley Canopy Therapeutics to address the need for high-quality cannabis-based medicinal products in the UK.

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