SMITHS FALLS, Ontario — Canadian hemp company Canopy Growth Corp. announced on Thursday that it has acquired AgriNextUSA, a Pennsylvania hemp enterprise led by CEO Geoff Whaling.
Whaling, the chairman of the National Hemp Association, has been a prominent advocate of hemp legalization in the United States.
The acquisition will accelerate Canopy Growth’s entry into key American jurisdictions as regulators make hemp available as a legal crop under the 2018 U.S. Farm Bill.
Bruce Linton, co-CEO and chairman of Canopy Growth, said the company’s goal is keen to expand in the United States and make a variety of products with American-grown hemp.
Canopy Growth announced in January that it plans to invest $100-$150 million to establish a hemp industrial park in New York’s southern tier.