This just in. Storz & Bickel, the company who makes Volcano Vaporizers, has been bought by a cannabis company called Canopy Growth.
Canopy Growth Corporation is a Canadian brand based in Ottawa, which is the first publicly traded cannabis company in North America. Its claim to fame is its use of “compassionate pricing”, which aims to make medical marijuana affordable to patients in need. They’ve established themselves as a leader in the pot market, and their products are now reaching economies across the world. They’re innovative, with a few exciting projects in the works that I look forward to learning more about as details release. Canopy Growth is aptly named because they’ve been growing steadily since their founding in 2013. In addition to merging with brands and acquiring competitors over the years, now they’ve acquired the leader in vaporizer products, Storz & Bickel.
Storz & Bickel has been around for more than two decades, having released their Classic Volcano back in 2000. They’ve quickly become recognized as the leader in vape products, and with good reason — their products are some of the highest quality on the market. Between the sleekness of their design, the quality and durability of their parts, and the efficiency of their function, the Volcano and others from the Storz & Bickel line can literally last you a decade or longer.
So how much did Canopy Growth pay to make it theirs?
Turns out Storz & Bickel was worth 145 million euros, or 171 million US dollars. This includes the brand and all its assets, which now belong to Canopy Growth.
As mentioned above, this is just one of many steps Canopy has taken to expand their company. Initially known as Tweed Marijuana, Inc., Canopy is growing rapidly in Canada and now across the globe. Could we see them become the largest cannabis company in the world? Could be. But with massive growth can come a drop in quality, something we’ve seen all too many times before with other big name brands.
Can we expect the same standard of quality?
I sure hope so. And I think we will — as part of the deal, the founders and previous owners of S&B are staying on to help run things. “I am looking forward to actively shaping this development personally in a senior leadership position,” says Jürgen Bickel. “On the one hand to ensure continuity and on the other hand to accelerate the development together with the Canopy team to lead it to unprecedented heights.”
So far so good. And maintaining quality seems to be high on Canopy’s list, too. Chief Tech Officer Peter Popplewell says, “Leveraging [Storz & Bickel’s assets] into the tech-heavy vaporizer designs we have in progress will allow us to bring products to market that will set a new bar in terms of quality, functionality, and consumer safety.”
What does this mean for the future of Volcano products?
I personally am excited to see what new stuff Canopy comes out with. Their emphasis on medical marijuana and stringent lab testing tells me that we’ll see high quality products from these guys. Pair their values with Storz & Bickel’s known quality of materials and craftsmanship, and we’ve got a promising team at work. And with their growing global reach, hopefully we can see better access to those in need, wherever they live.
As always, stay tuned for reviews and comparisons on the latest vaporizers from Storz & Bickel, now Canopy, and other competing brands.