Germany’s most well known herbal vaporizer manufacturer, Storz & Bickel GmbH & Co. KG, has been acquired by one of Canada’s leading marijuana companies, Canopy Growth Corporation.
The move marks yet another move by Canopy Growth into an auxiliary market serving cannabis consumers, as Storz & Bickel’s line of popular vaporizers are designed for use with cannabis in both its dry and concentrated forms.
According to a press release issued by Canopy Growth, the company, which is traded on the Toronto and New York stock exchanges, has acquired Storz & Bickel and essentially all that it entails for a purchase price of up to approximately $165.32 million (USD). The notably large acquisition offers no stock in exchange for the company, but rather cash and strictly cash at that.
Storz & Bickel is well known in the herbal vaporizing industry as the company helped pave the way for other vaporizer manufacturers with the success of its flagship vaporizer, the Volcano.
Today, Storz & Bickel offers more than just the Volcano, as the company now offers portable vaporizers, including the Crafty and Mighty – two portables that are considered by many reviewers to be among the most powerful portables on the market.
The founders of S&B, Jurgen Bickel and Markus Storz, are to remain involved with the company following its acquisition, helping steer the company alongside Canopy Growth’s existing management.
Jurgen Bickel, CEO of Storz & Bickel, indicated in a statement that the acquisition “will enable S&B to take the next significant development step forward” as access to Canopy’s “extensive portfolio of test laboratories as well as pharmaceutical and medical-scientific know-how opens up entirely new product development opportunities.”
“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 (…) 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.”
In other vape news, Imperial Brands has acquired vaping services company Nerudia and vaporizer retailer and distributor VapeWorld has acquired its competitor VaporNation.
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