Green House Holdings North America and its affiliate Organa Brands have announced that they will be partnering up alongside Canada’s Canopy Growth to join three of the world’s largest Cannabis businesses in a joint venture in the Canadian market.
“From world-class breeders like our partners DNA Genetics and now Green House Seeds, to sector innovators like Organa Brands, to cultural icons like Snoop Dogg, we work with the best in order to bring the best possible cannabis forward to our customers,” said Mark Zekulin, President of Canopy Growth.
The collaboration will see the three firms each allocated a portion of ownership within Agripharm – a 20,000 square foot indoor growing facility, located in Creemore, Ontario.
“Working with Canopy and Green House has been a surreal moment as we continue to fully recognize the impact of what this deal means for the industry as a whole,” said Organa Brands Co-founder, Jeremy Heidl. “We couldn't have asked for better partners in Canada and beyond - this new global partnership will prove to be a defining moment for all parties involved.”
Within the venture, Canopy Growth and Green House will each hold a 40% stake, whilst Netherlands-based Organa Brands will own the remaining 20%.
The agreement for the joint venture is expected to close on around 1 December 2017.