Canopy Growth

Corporate brand

Canopy Growth is a Canadian cannabis company that develops, produces, distributes, and markets medical and adult-use cannabis products and related consumer brands.

Last updated August 26, 2026

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First read: Nov 4, 2026
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Overview

Canopy Growth Corporation is a Canadian cannabis company headquartered in Smiths Falls, Ontario. Founded in 2013 as Tweed Marijuana Inc. by Bruce Linton and Chuck Rifici, it became one of the earliest large-scale, federally regulated cannabis producers in North America. The company changed its name to Canopy Growth Corporation in 2015 after combining with Bedrocan Canada, establishing a broader group of cultivation, medical-cannabis, retail, and consumer-product businesses. Canopy’s early development was closely tied to Canada’s regulated medical-cannabis market. Its Tweed operation used the former Hershey chocolate factory in Smiths Falls, while Tweed Farms operated a greenhouse in Niagara-on-the-Lake. The company expanded through acquisitions, partnerships, and new production facilities, building a portfolio that included Tweed, Bedrocan Canada, Spectrum Cannabis, Tokyo Smoke, DOJA, Van der Pop, and Maïtri. It also pursued international medical-cannabis opportunities in Europe, Latin America, the Caribbean, Africa, and Australia. Canopy became notable as the first federally regulated, publicly traded cannabis producer in North America and the first cannabis producer to trade on the New York Stock Exchange. Its Canadian ticker was WEED, while its NYSE ticker was CGC. In 2016 it was described in the financial press as Canada’s first cannabis company to reach a billion-dollar valuation. Its market capitalization rose sharply during the period leading to Canadian recreational legalization, and in April 2019 it was described as the world’s largest cannabis company by market capitalization. A defining strategic relationship was its investment partnership with Constellation Brands, the United States-based beer, wine, and spirits company. Constellation first acquired a minority position and announced an additional approximately C$5 billion investment in 2018, increasing its ownership to roughly 38 percent at the time. The relationship was intended to support international expansion and the development of cannabis beverages and other consumer formats, subject to applicable laws. The company nevertheless experienced substantial financial and operational pressure after Canada’s recreational market opened in October 2018. Large investments in cultivation capacity, acquisitions, retail, and international operations contributed to losses, while the Canadian market developed more slowly and unevenly than expected. Bruce Linton left the company in July 2019 following board-level dissatisfaction with performance. Mark Zekulin subsequently served as sole chief executive until David Klein, previously a senior executive at Constellation Brands, was appointed chief executive in late 2019 and began the role in January 2020. Canopy’s product scope has included dried cannabis, oils, softgels, medical products, CBD products, beverages, chocolates, and other edible formats. Its brands have targeted medical patients, adult-use consumers, wellness-oriented customers, and differentiated lifestyle segments. The company also invested in cannabis science, including professorships at the University of British Columbia in cooperation with the British Columbia Centre on Substance Use. During the later restructuring period, Canopy reduced its physical footprint and announced the closure of Canadian sites, affecting approximately 220 employees. In September 2022 it announced the divestiture of its Canadian retail operations, including 28 stores, transferring them to other cannabis companies. Canopy’s history therefore reflects both the rapid capital formation and international ambition of the early legal-cannabis industry and the subsequent shift toward cost control, portfolio rationalization, and more focused operations.

History

Canopy Growth began in 2013 as Tweed Marijuana Inc., founded by Bruce Linton and Chuck Rifici. The company entered Canada’s emerging federally regulated medical-cannabis sector and established its main operating base in Smiths Falls, Ontario, using a former Hershey chocolate factory for cultivation and processing activities. A greenhouse operation was also established at Tweed Farms in Niagara-on-the-Lake. In 2015, following a merger with Bedrocan Canada, the company adopted the Canopy Growth Corporation name. Tweed and Bedrocan became important parts of a multi-brand structure that later included Spectrum Cannabis and other subsidiaries. Canopy pursued a scale-oriented strategy, acquiring licensed producers and distributors while developing domestic and international medical-cannabis channels. Its acquisitions included Vert Medical, the German distributor MedCann, a majority interest in Groupe H.E.M.P.CA, and Mettrum Health, an Ontario licensed producer whose acquisition was announced in late 2016 and completed in 2017. The company expanded outside Canada during the period when Canadian adult-use legalization was approaching. It began selling medical cannabis products in Germany and Brazil in 2016 and developed relationships or operations involving Spain, Denmark, the United Kingdom, Australia, Chile, Peru, Jamaica, the Czech Republic, and Lesotho. In 2018 it acquired Hiku Brands, adding Tokyo Smoke, DOJA, Van der Pop, and Maïtri to its brand portfolio. In 2019 it acquired Spanish licensed producer Cáñamo y Fibras Naturales and continued to operate or develop medical-cannabis infrastructure in Germany and Denmark. It also reached a conditional agreement concerning Acreage Holdings, designed to permit a future acquisition if US federal law changed. Canopy was an early leader in cannabis capital markets. It was described as the first federally regulated, publicly traded cannabis producer in North America and became the first cannabis producer to list on the New York Stock Exchange in May 2018. The company’s Canadian listing used WEED, while its NYSE listing used CGC. Its valuation increased sharply during the period surrounding Canadian legalization, and the company was described as the world’s largest cannabis company by market capitalization in April 2019. Constellation Brands became a central strategic partner. After making an initial investment, the US beverage-alcohol company announced an additional approximately C$5 billion investment in August 2018, increasing its ownership to roughly 38 percent at that time. The partnership was intended to support international expansion and the development of cannabis beverages, sleep-related products, and other consumer formats. Constellation’s influence also increased through board representation. Canada legalized adult-use cannabis on October 17, 2018. A Tweed store in St. John’s was identified in the source material as the location of Canada’s first legal cannabis sale at midnight. Canopy subsequently expanded its adult-use portfolio and announced THC- and CBD-infused beverages, chocolates, and other edibles in 2019. Retail activity was conducted through brands including Tweed and Tokyo Smoke in provinces permitting private cannabis retail. The company’s expansion brought significant financial and operational challenges. It invested heavily in cultivation capacity, acquisitions, facilities, retail, and international operations, while Canadian recreational sales grew more slowly than many industry participants had anticipated. Reported losses and weaker-than-expected results created pressure from investors and strategic partner Constellation Brands. Bruce Linton was removed from his roles in July 2019. Mark Zekulin continued temporarily as sole chief executive, while Rade Kovacevic became president and John Bell became chairman. In December 2019, Canopy announced David Klein, formerly a senior executive at Constellation Brands, as its new chief executive; he began the role in January 2020. Canopy also supported research and education. In 2018 it funded professorships in cannabis science at the University of British Columbia in cooperation with the British Columbia Centre on Substance Use. This initiative complemented the company’s broader effort to present cannabis as a regulated, research-informed product category rather than solely as a commodity. The later phase of the company’s history involved restructuring and rationalization. In 2020, Canopy announced the closure of some Canadian sites, potentially affecting approximately 220 employees. In September 2022 it announced the divestiture of its Canadian retail operations, including 28 stores, to other cannabis companies. These actions reflected a move away from the broadest version of its earlier expansion strategy and toward a more focused operating model. Canopy Growth remains associated with major cannabis brands, medical products, adult-use offerings, international ambitions, and the rapid rise and subsequent consolidation of the legal cannabis industry.

2022
Canadian retail operations are divested
[1]Canopy Growthen.wikipedia.org
Canopy announces the sale of 28 Canadian retail stores to other cannabis companies.
2020
Canopy begins site rationalization
[1]Canopy Growthen.wikipedia.org
The company announces Canadian site closures and related workforce reductions.
2019
Bruce Linton leaves the company
[1]Canopy Growthen.wikipedia.org
The co-founder is removed from his leadership roles during a board-led restructuring.
2019
Canopy announces a conditional Acreage agreement
[1]Canopy Growthen.wikipedia.org
The proposed transaction would allow Canopy to acquire Acreage Holdings if US federal cannabis law permits the deal.
2018
Canopy lists on the New York Stock Exchange
[1]Canopy Growthen.wikipedia.org
Canopy begins trading as CGC and becomes the first cannabis producer listed on the NYSE.
2018
Constellation Brands expands its investment
[1]Canopy Growthen.wikipedia.org
Constellation announces an additional approximately C$5 billion investment, substantially increasing its ownership stake.
2018
Hiku Brands joins Canopy Growth
[1]Canopy Growthen.wikipedia.org
The acquisition adds Tokyo Smoke, DOJA, Van der Pop, and Maïtri to Canopy’s portfolio.
2018
Canada legalizes adult-use cannabis
[1]Canopy Growthen.wikipedia.org
The national legalization framework takes effect on October 17, enabling legal recreational cannabis sales.
2017
Mettrum acquisition is completed
[1]Canopy Growthen.wikipedia.org
The acquisition expands Canopy’s licensed production footprint and adds another Canadian cannabis producer.
2016
International medical-cannabis sales begin
[1]Canopy Growthen.wikipedia.org
Canopy begins selling medical cannabis products in Germany and Brazil and continues building international partnerships.
2015
The company adopts the Canopy Growth name
[1]Canopy Growthen.wikipedia.org
After merging with Bedrocan Canada, Tweed Marijuana Inc. becomes Canopy Growth Corporation.
2013
Tweed Marijuana Inc. is founded
[1]Canopy Growthen.wikipedia.org
Bruce Linton and Chuck Rifici establish the company that would become Canopy Growth.

Products and positioning

A regulated cannabis company combining large-scale cultivation, medical cannabis, adult-use brands, retail, international distribution, and consumer packaged goods. Its historic positioning emphasized scale, brand-building, scientific credibility, and global expansion, while later strategy placed greater emphasis on profitability and operational focus.

Adult-use and medical cannabis · 2013
Tweed
Tweed was Canopy Growth’s founding and best-known cannabis brand. It originated as the company’s operating identity and became a consumer-facing label for dried cannabis and other regulated cannabis products. Tweed was also associated with retail stores, including the store identified in the source material as making Canada’s first legal recreational cannabis sale after national adult-use legalization.
Medical cannabis
Spectrum Therapeutics
Spectrum Therapeutics is Canopy Growth’s medical-cannabis platform and brand family. It developed products and distribution channels for patients in Canada and international markets. The group also operated through international entities, including a German medical-cannabis importing subsidiary, reflecting Canopy’s effort to build a regulated pharmaceutical-style presence.
Cannabis retail and consumer products · 2017
Tokyo Smoke
Tokyo Smoke is a cannabis retail and lifestyle brand acquired through Canopy Growth’s purchase of Hiku Brands. Its portfolio was oriented toward adult-use consumers and included retail locations in jurisdictions where private cannabis stores were permitted. The brand later became part of the company’s broader Tokyo Smoke Brands structure.
Cannabis
DOJA
DOJA was a cannabis brand brought into Canopy Growth through the Hiku acquisition. It originated within Hiku’s portfolio and represented a differentiated adult-use cannabis proposition alongside Tokyo Smoke, Van der Pop, and Maïtri.
Cannabis lifestyle and wellness
Van der Pop
Van der Pop was a women-focused cannabis and lifestyle brand acquired through Hiku Brands. Its inclusion gave Canopy a more explicitly lifestyle-oriented identity within its adult-use portfolio, complementing the company’s mainstream Tweed and retail-focused Tokyo Smoke brands.
Cannabis edibles and beverages · 2019
Cannabis beverages and chocolates
In 2019 Canopy announced retail edible products including THC- and CBD-infused beverages and chocolates. These products formed part of the company’s effort to extend cannabis beyond flower and oils into consumer packaged goods and to develop the product formats contemplated in its relationship with Constellation Brands.

Controversies

2021
Cointreau sues Canopy over beverage names
Rémy Cointreau filed a lawsuit against Canopy Growth alleging that its Quatreau CBD-infused sparkling drinks use a mark too similar to Cointreau and constitute trademark infringement. The complaint seeks, among other remedies, an injunction.
Source

2018Cannabis science professorships
Canada
Canopy Growth funded professorships in cannabis science at the University of British Columbia in cooperation with the British Columbia Centre on Substance Use. The initiative supported research and education as Canada moved toward national adult-use legalization.
Outcome. The initiative strengthened Canopy’s research-oriented positioning and connected the company with academic and public-health institutions.
Source
2018Tweed adult-use legalization launch
Canada
Tweed stores participated in the launch of Canada’s legal recreational cannabis market on October 17, 2018. The source material identifies a Tweed store in St. John’s as the site of the first legal cannabis sale at midnight.
Outcome. The launch gave Tweed and Canopy prominent visibility at the beginning of Canada’s national adult-use market.
Source

Brand decisions

2022
Divest Canadian retail operationsStrategy
Background
Canopy sought to simplify its Canadian business and reduce exposure to retail operations.
Action taken
The company announced the sale of 28 Canadian retail stores to other cannabis companies.
Aftermath
The decision reduced Canopy’s direct Canadian retail footprint and reflected a more focused post-expansion strategy.
Source
2020
Close selected Canadian sitesStrategy
Background
Canopy faced operating losses and the need to reduce its cost base after a period of rapid facility and market expansion.
Action taken
The company announced the closure of some Canadian sites.
Aftermath
The closures were expected to affect approximately 220 employees and formed part of a broader restructuring effort.
Source
2019
Sign a conditional agreement to acquire Acreage HoldingsM&A
Background
Canopy wanted a pathway into the United States while US federal law continued to restrict federally regulated cannabis commerce.
Action taken
Canopy agreed to pay for the right to acquire Acreage and proposed buying all of its shares for approximately US$3.4 billion if US federal cannabis legalization permitted the transaction.
Aftermath
The agreement created a contingent US expansion route, but no immediate acquisition occurred under the conditions described in the reference material.
Conditional transaction consideration. US$300 million for the right to purchase; proposed US$3.4 billion share acquisition upon federal legalization (2019)
Source
2019
Restructure leadership and refocus the businessStrategy
Background
The company faced large losses, slower-than-expected cannabis sales, rising expenses, and dissatisfaction from Constellation Brands and the board.
Action taken
Bruce Linton was removed from his leadership roles, Mark Zekulin continued temporarily as sole chief executive, Rade Kovacevic became president, and John Bell became chairman. David Klein was later selected as chief executive.
Aftermath
The leadership transition increased Constellation’s influence and signaled a shift from aggressive expansion toward operational discipline and profitability.
Source
2019
Enter cannabis edibles and beveragesProduct launch
Background
Canada’s regulated cannabis framework was expanding beyond dried flower and oils, while Canopy and Constellation had identified beverages and other consumer formats as strategic opportunities.
Action taken
Canopy announced retail THC- and CBD-infused beverages, chocolates, and other edible products.
Aftermath
The move broadened Canopy’s consumer product range and supported its ambition to compete in packaged cannabis formats.
Source
2018
Accept Constellation Brands’ expanded investmentM&A
Background
Canopy sought capital for international expansion, cultivation capacity, and new cannabis product formats as Canada approached adult-use legalization.
Action taken
The company accepted an additional approximately C$5 billion investment from Constellation Brands, which increased Constellation’s ownership to roughly 38 percent at the time.
Aftermath
Constellation gained substantial strategic and board influence, while Canopy received capital to pursue beverages, international markets, and other growth initiatives.
Additional investment. Constellation held approximately 10 percent → Approximately 38 percent ownership at the time (2018)
Source

Recent events

2021.07.16
Reported2021.07.21
Cointreau sues Canopy Growth over Quatreau name[3]Cointreau sues Canopy over beverage namestoronto.citynews.ca
Cointreau Corp. sued Canopy Growth Corp. in a New York court, alleging trademark violations over Canopy’s Quatreau cannabis beverage name. Cointreau said it feared the names could cause consumers to mistake Canopy’s products for its brands, and sought a permanent injunction and profits from the allegedly infringing products. The report describes allegations, not a court finding.
Unconfirmed
Reported2021.07.16
Cointreau sues Canopy over beverage names[2]Cointreau sues Canopy over beverage namesedmontonjournal.com
Rémy Cointreau filed a lawsuit against Canopy Growth alleging that its Quatreau CBD-infused sparkling drinks use a mark too similar to Cointreau and constitute trademark infringement. The complaint seeks, among other remedies, an injunction.
2021.06.23
Reported2021.06.23
Canopy Growth completes acquisition of Supreme Cannabis[4]Canopy Growth完成对Supreme Cannabis的收购prnewswire.com
Canopy Growth completed its acquisition of all issued and outstanding common shares of Supreme Cannabis, making Supreme a wholly-owned subsidiary.
2021.04.01
Reported2021.04.01
Canopy Growth acquires Ace Valley[5]Canopy Growth收购Ace Valleytoronto.citynews.ca
Canopy Growth acquired Ace Valley, a Toronto company that makes vapes, gummies and pre-rolls. Financial terms were not immediately available.
2021.02.23
Reported2021.06.03
RIV Capital closes Canopy Growth transaction[6]RIV Capital完成与Canopy Growth的交易prnewswire.com
RIV Capital closed its previously announced transaction with Canopy Growth, disposing of certain financial assets held in TerrAscend, TerrAscend Canada, Tweed Tree Lot and Vert in exchange for cash, Canopy Growth shares and cancellation of Canopy Growth's shares in RIV Capital.
2020.03.11
Reported2020.03.11
TerrAscend Canada secures C$80.5 million loan from Canopy Growth[7]TerrAscend Canada获得Canopy Growth提供的8050万加元贷款prnewswire.com
TerrAscend announced that its wholly owned subsidiary, TerrAscend Canada, entered into a C$80.5 million secured loan financing arrangement with Canopy Growth and issued Canopy Growth 17,808,975 common share purchase warrants in connection with the loan.
2020.01.06
Reported2020.01.06
Canopy Growth announces planned Tokyo Smoke store openings[8]Canopy Growth宣布计划开设Tokyo Smoke门店finance.yahoo.com
Canopy Growth announced plans to work with 10 Ontario retail license holders to open new Tokyo Smoke-branded cannabis stores across Ontario.
2019.11.07
Reported2019.11.07
Canopy Growth and Drake launch More Life Growth Company[9]Canopy Growth与Drake推出More Life Growth Companytoronto.citynews.ca
Canopy Growth and musician Drake are launching More Life Growth Company, a licensed cannabis producer based in Toronto. Canopy Growth will operate the production facility and hold exclusive Canadian distribution rights for More Life products.

Sources14 sources

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