Canopy Growth Corporation Plants Its Flag In Pennsylvania, Plans Hemp Industrial Parks Across The U.S.

AgriNextUSA would not say how much Canopy was paying for them

Canopy Growth Corp., the Canadian cannabis behemoth, is acquiring AgriNextUSA of Reading with an eye on building its hemp business in the United States.

AgriNextUSA has been headed by Geoff Whaling, an evangelist for hemp and its many applications. Whaling said Canopy’s chairman, Bruce Linton, called him right after President Donald Trump signed the 2018 Farm Bill that legalized hemp and asked, “When are we growing hemp?”

Whaling would not say how much Canopy was paying for AgriNextUSA.

The self-styled “Hemporer” of America sees hemp becoming a multi-billion dollar industry. Analysts for investment bankers Cowen & Co. predict that U.S. revenues for just one range of hemp products — manufactured with the extract cannabidiol or CBD — could be worth $16 billion annually by 2025.

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