Canopy Growth said it has completed its acquisition of MTL Cannabis, creating one of the largest medical cannabis operators in Canada.
“The acquisition of MTL is a defining step forward in strengthening Canopy Growth’s core Canadian business and advancing our path toward sustainable profitability,” said Canopy Growth CEO Luc Mongeau in a statement. “We have long admired MTL and their approach to cannabis and business, and together we are Canada’s leading medical cannabis company, complemented by a strong and accelerating adult-use platform within the country. Today, we are better positioned to deliver higher-quality products, operate more efficiently, and scale strategically to meet growing demand in international markets.”
Effective upon closing of the deal, key members of MTL have joined the Canopy Growth leadership team. The combined team includes:
- Luc Mongeau, Chief Executive Officer
- Tom Stewart, Chief Financial Officer
- Christelle Gedeon, Chief Business Development & Corporate Affairs Officer
- Michael Perron, Chief Operating Officer
- Chrissy McHardy, Senior Vice President, Human Resources
- Andrew Bevan, Senior Vice President, Medical Sales
- Jürgen Bickel, Managing Director and Co-Founder of Storz & Bickel GMBH
In addition, MTL co-founders Richard Clément and Michel Clément will serve as strategic advisors to the company, supporting integration and cultivation. With the transaction now complete, Canopy Growth has begun integration of MTL’s cultivation and post-harvest operations into its supply chain.
