Canopy Growth Acquires Ontario Cannabis Brand Ace Valley

On Thursday, Canopy Growth (NASDAQ: CGC) added another name to its asset list. The Canadian marijuana company announced that it acquired 100% of a privately held peer, AV Cannabis, better known as Ace Valley. Canopy Growth's new unit owns a brand with a range of "ready-to-enjoy" products that cover pre-rolled cigarettes, vaping goods (pens, cartridges, and batteries), and THC/CBD-infused gummies.

Ace Valley states on its website that it's currently at work on new products, although it provides no further details, nor any timetable.

Image source: Getty Images.

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Source Fool.com