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Neptune Wellness Enters US Cannabis Market Through Sugarleaf Acquisition

Javier Hasse

Cannabinoid extraction and purification company Neptune Wellness Solutions (NASDAQ: NEPT) has acquired Sugarleaf, a cannabis supplier in North Carolina.

As a Canadian-based, licensed producer of cannabis extracts, the company is now able to operate within the U.S. markets legally. This acquisition follows a succession of deals, which include Canopy Growth Corp. (NYSE: CGC) and Green Organic Dutchman Holdings Ltd (OTC: TGODF).

The deal with Sugarleaf is proposed to generate over $150 million over the course of the next three years.

“The acquisition is a true milestone for Neptune as we continue to expand our products to the broader US customer base, as well as grow within the global cannabis market. We look forward to fostering this partnership with Sugarleaf and expanding our capabilities to provide the most quality health solutions to existing and potential customers,” said Michael Cammarata, CEO of Neptune Wellness Solutions.

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