EXCLUSIVE: Cannabis Business Canopy Growth Acquires This Works

Canopy Growth Corp. has acquired beauty business This Works for 43 million pounds. The London-based This Works makes a range of natural skin-care and sleep products, including Deep Sleep Pillow Spray, Morning Expert Hyaluronic Serum and Skin Deep Dry Leg Oil. This Works has been backed by private equity firm Tengram Capital Partners since 2015, and has grown its product line, expanded its geographic footprint in the U.S., Canada and China and honed positioning as a brand centered around body and skin needs at all hours of the day. The business is said to have a loyal customer base, and is sold in 35 countries. Industry sources estimated it has between $10 million and $15 million in sales. According to chief executive officer Anna Persaud, the business has posted a 39 percent compound annual growth rate over the past five years. For Canopy, which focuses on medical, health and wellness, and recreational hemp and cannabis products, This Works furthers its reach into wellness. “We’re framing up a line of business which, in part, will be driven by CBD as an active ingredient set, so we needed some party to work with that actually felt that science was important to getting it right, and having

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