By Marijuana Business Daily
Canopy Growth has lined up celebrity lifestyle guru Martha Stewart to advise the Canadian cannabis company in developing a new line of goods, including hemp-derived CBD products.
Stewart said their first collaboration will offer products for pets.
“As soon as you hear the name Martha, you know exactly who we’re talking about,” Canopy Growth co-CEO Bruce Linton said in a news release.
Financial terms of the business partnership were not disclosed.
Canopy did not indicate in the release whether the products under development would be sold only in the United States, or if they could also be marketed in Canada.
It’s not the first foray for Canopy into hemp.
Last October, Canopy also acquired a Colorado hemp genetics firm in a stock-and-cash deal worth up to 320 million Canadian dollars ($243 million).
And after the passage of the 2018 Farm Bill that removed hemp from the U.S. Controlled Substances act, Canopy pledged to spend more than $150 million (CA$200 million) on hemp production and manufacturing in New York state.
Canopy did not immediately respond to queries about the Martha Stewart deal from Marijuana Business Daily.