Canopy Growth Takes Control of BioSteel
CBJ — Canada’s largest cannabis company — Canopy Growth — has acquired a majority stake in BioSteel Sports Nutrition, a maker of sports nutrition products.
The deal gives Canopy Growth a 72% ownership stake in BioSteel with the possibility of taking over 100% of the company in the future. Financial terms have not yet been disclosed.
Founded in 2009, BioSteel is best known for its pink sports drink that is used by professional athletes.
The company also has partnerships with USA Hockey, Canada Basketball, Athletics Canada and the Professional Hockey Players Association.