Canopy Growth Acquires Ace Valley Cannabis In Bid To Grow ‘Brand Loyalty’

Article by Tara Deschamps CTV News

BUSINESS | News Canopy Growth acquires Ace Valley cannabis in bid to grow brand loyalty Tara Deschamps A marijuana grow room at Canopy Growth's Tweed facility in Smiths Falls, Ontario on Aug. 23, 2018. (Sean Kilpatrick

Canopy Growth Corp. has purchased AV Cannabis Inc. in a bid to build more brand loyalty with customers.

The Smiths Falls, Ont.-based cannabis company said Thursday that it has acquired Ace Valley, a Toronto company that makes vapes, gummies and pre-rolls. Financial terms were not disclosed.

Rade Kovacevic, Canopy’s president and chief product officer, said his company was keen on the deal because its stores were among the first to stock Ace Valley, which revealed the strength of the brand.

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