Linton sounded conciliatory: “Creating Canopy Growth began with an abandoned [Hershey] chocolate factory and a vision,” he said. “The board decided today, and I agreed, my turn is over. Mark has been my partner since this company began and has played an integral role in Canopy’s success."
Canopy Growth has experienced rapid growth since being founded in 2013, establishing leading positions in Canada’s medical and recreational cannabis markets and building an emerging presence in a number of additional markets around the world. Even greater potential lies ahead, as cannabis was legalized across Canada last October and seems destined for the same in the U.S. The Government of Canada just published rules for edibles.
The company recently received a $5 billion (CAD) investment from Constellation Brands, a leading beverage alcohol company, which provides a significant benefit as Canopy continues to establish a first-mover advantage in the quickly evolving global cannabis market. If all warrants are exercised, Constellation will own 50% of Canopy Growth, which is publicly traded. Two Constellation executives sit on the Canadian company's board.
Food Processing recently covered Canopy Growth's disruption into the food industry in its July Cover Story, 5 Food Industry Disruptors to Watch
