A wave of acquisitions is sweeping the cannabis sector, as increasing legalization draws the attention of big business.
- Large and mid-tier cannabis companies are absorbing their smaller competitors.
- Tobacco and alcohol companies are moving in as a natural extension of their current ranges.
- This is supported by growth not just among cannabis growers but also for businesses supporting them.
Cultivation supplies company Sugarmade, Inc. (OTC: SGMD) (SGMD Profile) has recently announced the acquisition of hydroponic product companies that could more than double its revenue. Tilray, Inc. (NASDAQ: TLRY) is fueling expansion through an initial public offering as it begins its first sales of CBD oil products in the United Kingdom. Drinks giant Constellation Brands now owns a large chunk of Canopy Growth Corp. (NYSE: CGC), one of Canada’s largest cannabis companies. GW Pharmaceuticals Plc (NASDAQ: GWPH) is releasing fresh shares to fund its R&D-driven growth. Meanwhile, Aurora Cannabis, Inc. (OTCQX: ACBFF) is making acquisitions across the Atlantic, buying out a pair of European hemp companies.
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About Sugarmade, Inc.
Sugarmade, Inc. is a product and brand marketing company investing in products and brands with disruptive potential. Sugarmade’s brands include ZenHydro.com, CarryOutSupplies.com, and BudLife Cannabis Storage Solutions. For more information on the company’s products, please visit www.Sugarmade.com.
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