Leading US marijuana retailer LivWell takes ‘significant’ ownership stake in Canadian producer
By Matt Lamers
One of the largest marijuana retail operators in the United States has acquired a “significant” equity stake in an Alberta cannabis producer, a move that could pave the way for other U.S. companies to enter the Canadian market.
Denver-based LivWell Enlightened Health purchased the undisclosed stake in Lethbridge, Alberta-based 51st Parallel.
The deal essentially makes the Canadian company a LivWell affiliate.
Executives from the two privately held companies confirmed the transaction but declined to disclose the financial terms of the deal.
The move comes on the heels of U.S. alcohol giant Constellation Brands’ <a href="https://mjbizdaily.com/constellations-purchase-canopy-stake-transformative-portends-investments/"
Leading US marijuana retailer LivWell takes ‘significant’ ownership stake in Canadian producer is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs