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phenom

Canadian firm buys uk cannabis farm

A giant Canadian cannabis producer has agreed its maiden foray into the British market by buying a vast Lincolnshire greenhouse in a deal worth tens of millions of pounds.

Sky News has learnt that Spalding-based Bridge Farm Group will announce on Friday that it is being bought by Sundial Growers, a leader in the burgeoning provision of cannabis for health and medicinal usage.

Sources said that the deal would be among the largest cannabis-related corporate transactions involving a UK-based company.

Sundial plans to use the Lincolnshire site to grow hemp for the production of CBD, which is now being widely used by consumer brand manufacturers for its restorative properties.

Molson-Coors and Heineken, the brewers, have announced plans to sell cannabis-infused drinks, with Coca-Cola among those to have said they were monitoring the market.

Bridge Farm is due to be expanded from its current size to roughly 3.8m square feet in the coming years, making it one of the largest fully automated such growing structures in Europe.

Sundial's acquisition of Bridge Farm underlines the extent to which traditional plant and flower-growers are utilising the explosion of CBD usage to diversify their businesses.

CBD is hemp extract already commonly sold as a supplement in wellness products in a number of UK mainstream retailers.

The Medicines and Healthcare products Regulatory Agency, the UK regulator for medicines and medicinal products, has authorised the use of CBD, although it continues to face some resistance in Britain and elsewhere.

Sundial is understood to have identified Bridge Farm as an attractive takeover target several months ago.

The deal will entail an exit for NorthEdge Capital, which bought a stake in Bridge Farm just under two years ago.

A spokeswoman for Bridge Farm declined to comment on Thursday.

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money does grow on trees..

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Think I have seen this place, have driven up that way a few times for work in the last few months and seen they were building absolutely massive greenhouses not far from the main road while going by Spalding, now I don't normally notice greenhouses but the size of them had me looking and thinking "imagine growing weed in those fuckers" lol so you can be sure they are bloody huge.

 

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is this that magic money tree the mps cunts were banging on about a couple of years ago?

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