Press Release: Houseplant and Canopy Growth to Conclude Their Strategic Relationship in Canada

CANNANNEW REPORT

Make of this what you will… TORONTO, July 28, 2021 /CNW/ – After three years of a successful joint venture, Houseplant and Canopy Growth Corporation have mutually agreed to end their relationship. The Canadian cannabis market has evolved substantially during this period, and the parties believe the time is right for the Houseplant brand to develop independently while Canopy advances its focus on wholly-owned brands for the Canadian market. The relationship between Houseplant and Canopy started in 2018, well ahead of Canadian legalization. Since that time, Houseplant and Canopy worked together to pave the way in defining a premium cannabis experience in a new market. During the course of their relationship, Houseplant has become a popular consumer brand in Canada and is currently a top 10 brand in the premium cannabis market in Ontario. Beverages are a highlight of the brand’s success, with Houseplant Grapefruit notably attaining the top-selling cannabis beverage spot in Canada (measured by units sold) in its launch year. More than one million cans of Houseplant beverages were sold in Canada within the last year. “The recent launch of Houseplant in the United States has given us a clear benchmark for what Houseplant stands for, and how we plan to bring the brand to life globally,” says Michael Mohr, Co-Founder and CEO, Houseplant. “While our collaboration with the Canopy team has been fruitful and we continue to hold similar views on the opportunities ahead, we believe the time is right for us to focus on Houseplant independently.” “We’re proud of our collaboration with Houseplant. Together, we’ve delivered high quality and innovative products to Canadian consumers and played a critical role in defining the premium cannabis category in Canada,” said Rade Kovacevic, President and Chief Product Officer, Canopy Growth. “As we move forward, Canopy will advance our focus on our wholly-owned brands for the Canadian market and we wish the Houseplant…

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Source : Press Release: Houseplant and Canopy Growth to Conclude Their Strategic Relationship in Canada

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