Dried flower remains Canadians top pot purchase in 2020 with over $2B sold
Canadians bought more than $2 billion of dried flower cannabis products last year, while sales of edible products remained muted, according to Statistics Canada.
StatsCan s quarterly retail commodity survey showed dried flower continued to dominate the legal Canadian recreational market, accounting for more than three-quarters of all sales. Roughly $2.01 billion of dried flower, which also includes pre-rolls, were sold in 2020, with the fourth-quarter seeing nearly double the amount sold from the prior year with $614.4 million, according to StatsCan.
Interestingly, the next leading category was extracts and concentrates, which came in at $323.9 million sold last year, or 12.3 per cent of all sales. The category, which was only made available for legal sale in Oct. 2019, surged in retail activity with quarterly sales tripling by the fourth-quarter of the year to $123.7 million. Extract sale
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Developments show that global receptiveness to marijuana is accelerating.
By Tiffany Kary, Bloomberg
15 Mar 2021 07:45
Seemingly overnight, the cannabis industry has gone global.
That can be seen in the deal just announced by Curaleaf Holdings Inc., the largest US cannabis company, that aims to turn Europe into a launchpad for international growth. Or take a look at British American Tobacco Plcâs new stake in a Canadian marijuana company, Organigram Holdings Inc. And then thereâs the bill passed last week in Mexico that could make recreational marijuana legal, paving the way for heavy international investment.
Together, the developments show that global receptiveness to marijuana is accelerating.
Marijuana Is Going Global at a Rapid Pace: Cannabis Weekly leaderpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from leaderpost.com Daily Mail and Mail on Sunday newspapers.
Mar 12, 2021 09:10 pm
By Chloe Aiello
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U.S. cannabis company Curaleaf agreed to acquire London-based Emmac Life Sciences in a $286 million deal that represents the company’s first step into the burgeoning European cannabis market.
“We think, although the market is just emerging, it s the addressable opportunity in Europe could actually be bigger than the addressable opportunity in the U.S., and this gives us an unparalleled platform to be able to build on,” Curaleaf CEO Joe Bayern told Cheddar.
The cash and stock transaction is expected to close early in the second quarter of 2021.
Cannabis multistate operator Curaleaf already has a substantial presence across the U.S. market. Following its $830 million acquisition of Grassroots Cannabis, which closed in July, the company has a footprint across 23 U.S. states including Arizona and New Jersey, where voters recently approved adult-use legalization. The Emmac acquisition grants Curaleaf access to the expanding Euro
(Jan 14): Four months ago, Alimentation Couche-Tard Inc. founder Alain Bouchard gave a update to investors about the company’s hunt for a major acquisition. The convenience store chain was on the lookout for deals, he said, but not at any cost.
“As you know, Couche-Tard doesn’t seek to make a splash,” Bouchard said during the Canadian company’s Sept. 16 annual meeting. “Up to now, our patience and rigor have served us well.”
He may not want a splash, but Bouchard’s company is making one with US$20 billion move for French grocer Carrefour SA. The acquisition would be about five times the size of its biggest purchase to date and thrust Quebec-based Couche-Tard into large supermarkets, a low-margin corner of the food industry in which it has little experience.