Canopy Growth sells Denmark facility to Australian cannabis producer

Canopy Growth sells Denmark facility to Australian cannabis producer

The cannabis company is restructuring its operations to align with its growth initiatives

The process to purchase a world-renowned GMP medical cannabis cultivation and manufacturing facility with exclusive operations in Denmark has finally been concluded by Australia-based Little Green Pharma Ltd (LGP). After conducting several negotiations with Canopy Growth Corporation, the highly recognized company in the cannabis industry agreed to sell its facility to this Australian cannabis producer.

It seems that the capacity and potential that this facility possesses is something out of this world. Located in the north of Odense, it is reported that this plant has the capacity to produce no less than 12 tons of finished flowers per year, something that suits a cannabis producer like a glove. LGP can now, without any problems, obtain the much-desired supply it needs from its inventory of 1 ton of medical cannabis flower products, a market where it is quite prominent.

In earlier days, LGP was run as a production site; however, now after some strategic decisions, it intends to expand the facility’s service offering through marketing and sales, while leveraging the facility to better reach the global and European Union (EU) markets.

So far, LGP has been able to consolidate its brand and distribution channels in a great way and expects that this, together with the vast knowledge of the markets in the region, can provide a valuable additional sales opportunity for the newly acquired facility.

LGP’s CEO, Ms. Fleta Solomon, said, “The opportunity to acquire this facility arose and it was clear from the outset that this was a compelling strategic move for LGP. We have momentum in the market now to capitalize on the brand equity that LGP has built with our existing patients in Germany, the UK, and France, as well as in Australia, and immediate access to medical-grade products at the scale that now provides us with the opportunity to accelerate our growth strategy.”

It has become clear that the mission is to improve the quality of people’s lives through the development and supply of cannabis-based medicines, and with this new momentum, it is likely to move ever closer to a greater goal.

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