Canopy Growth Corp., one of the world’s biggest medical cannabis companies, is planning a major investment in Europe.
The marijuana grower will spend more than 100 million euros ($115 million) to expand production in the EU over the next two years, according to Pierre Debs, managing director at Canopy’s Spectrum Cannabis Europe division. The weed giant--valued at about $9.8 billion--is planning to build two new production facilities to grow hundreds of kilos of cannabis for use in treatment.
Germany and the EU overall “are the most exciting federally regulated medical cannabis market outside of Canada,” Debs said in a phone interview. “Things are going to grow not too differently than what happened in Canada. We’re going to need significant production facilities.”
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