Canopy Growth Makes a Surprising Acquisition
In what has to be considered one of the more offbeat and unexpected acquisitions in the short history of marijuana stocks, Canopy Growth (NYSE: CGC) is buying a sports drink and supplements company.
Canopy Growth has acquired a 72% stake in BioSteel Sports Nutrition, both companies announced in a joint press release. BioSteel manufactures items such as pre-made drinks, drink mixes, and powders geared toward the active athlete.
Wayne Gretzky modeling a BioSteel hockey jersey. Image source: BioSteel.
Source Fool.com