Canopy Growth Corp. agreed to acquire U.K. skin-care brand This Works for 43 million pounds ($73.8 million) in cash, the world’s largest cannabis producer’s latest move to expand in Europe. The purchase will allow Canopy to launch a new range of CBD-infused skin-care and sleep-aid products for global sale, the company said Wednesday. CBD, or cannabidiol, is an active ingredient of cannabis that doesn’t make users high and can be sold in the U.K. when derived from hemp. Sales of CBD-based products are expected to be worth 12.5 billion pounds worldwide by 2025, according to the companies. London-based This Works, founded in 2004 and known most widely for a sleep-aiding pillow spray, doesn’t currently make CBD-infused products.

Source: thestar May 22, 2019 12:22 UTC