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Canopy Growth Corp. acquires German vape company Storz & Bickel

Kirk Smol by Kirk Smol
November 11, 2024
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Canopy Growth Corp. acquires German vape company Storz & Bickel

Today (December 6), one of Canada’s largest licensed cannabis producers announced the acquisition of an iconic weed technology company. In a release, Canopy Growth Corporation says it bought German vape designer Storz & Bickel (S&B) for a cool €145 million (roughly $221 million CAD).

S&B gained an international reputation with products like The Volcano—a conical tabletop diffuser that blows up the best party balloons known to mankind (basically oven bags full of vaporized cannabis). The technology, amongst other vapes in their portfolio, revolutionized the consumption method and has become iconic of weed technology since its release in 2000.

View this post on Instagram

Thank God it‘s Friday! #storzandbickel #storzbickel #volcanoclassic #thepioneer #plenty #mighty #crafty #volcanobar

A post shared by STORZ & BICKEL GmbH & Co. KG (@storz.bickel) on Nov 30, 2018 at 9:34am PST

In a release, Canopy Growth called the deal “the most significant acquisition to date.”

“Joining Canopy will enable S&B to take the next significant development step forward. Access to Canopy Growth’s extensive portfolio of test laboratories as well as pharmaceutical and medical-scientific know-how opens up entirely new product development opportunities,” said Jürgen Bickel, co-founder and ceo of S&B, in the announcement.

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“I am looking forward to actively shaping this development personally in a senior leadership position. On the one hand to ensure continuity and on the other hand to accelerate the development together with the Canopy team to lead it to unprecedented heights.”

Cannabis concentrates (commonly used in vape technologies) were not included in the first round of Canada’s federal legislation. Policy makers have said updates the law to include these products, as well as weed-infused topicals and edibles, are in the works for 2019. Pairing Canopy Growth’s substantial capital with S&B’s history of technical innovation and portfolio of patents leaves the LP in prime position for the next wave of legalization.

Bickel and co-founder Markus Storz will stay on to work alongside Canopy Growth’s management team.

Kirk Smol

Kirk Smol

Kirk's journey through the digital realm began with lines of code and algorithms dancing in his dreams. Armed with a keyboard and an insatiable curiosity, he embarked on the path of software engineering. However, fate had a smoky twist in store for him. As the ones and zeros swirled around him, Kirk had an epiphany – he realized that he was more interested in the highs and lows of the cannabis industry than debugging lines of code. With a leap of faith that would make a bungee jumper blush, he bid farewell to the world of semicolons and database queries and embraced the intoxicating allure of cannabis journalism. Now, Kirk finds himself navigating a different kind of network, one that's all about buds, trichomes, and terpenes. Armed with a pen that's mightier than a vaporizer and a keen eye for detail, he's on a mission to unravel the mysteries of the green world.

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