On August 17, 2023, Canopy Growth Corporation (“Canopy”) announced that it has entered into an agreement to sell its approximately 700,000-square-foot facility in Smiths Falls, Ontario to its original owner, Hershey Canada Inc.
Pursuant to the terms of the agreement, the facility will be sold to Hershey Canada Inc. for cash consideration of approximately $53 million. The completion of the transaction is subject to customary closing conditions.
Hershey Canada Inc. is a wholly owned subsidiary of The Hershey Company (New York Stock Exchange: HSY) that manufactures, distributes and sells confectionery, snack, refreshment and grocery products in Canada. The Hershey Company is one of Canada’s leading chocolate and confectionery companies with a strong portfolio of brands.
Miller Thomson advised Hershey Canada Inc. with a team led by Aaron Atcheson (Real Estate) and comprised of Katherine Cavan, Kyle Bertsch, Rebecca Armstrong (Real Estate), André Nowakowski, David Tsai (Labour and Employment), Tara Piurko, Thomas Sanderson, Sandra Luna-Martinez (Municipal Tax and Municipal Law), Eric Dufour (Competition) and Tony Van Klink.
