CTV News Ottawa reporting Canopy Growth signed an agreement to sell its facility to chocolate maker.
After leaving the eastern Ontario community of Smith Falls in 2017, Hershey Canada is returning to its former 700,000 sq. ft. facility after signing an agreement with Canopy Growth Corp. to buy back the site from the cannabis company for $53 million, according to CTV News Ottawa.
The facility was used by Canopy Growth for flower and edibles production. The company had announced plans to close the facility which came on the news that the company had obtained creditor protection from the Ontario Superior Court of Justice for its BioSteel Sports Nutrition Inc. business and that it intends to seek permission to sell that business.
According to the CTV News Ottawa report, The Hershey Company says it is too early to discuss any plans for the facility. In an email sent to CTV News Ottawa, Todd Scott, Hershey’ senior communications manager says that the purchase was a strategic acquisition and was part of the chocolate maker’s ongoing investments in its supply chain network.
A spokesperson for The Hershey Company confirms to CTV News Ottawa that it signed the agreement to the facility in Smiths Falls, but said it is premature to discuss potential hiring or production plans.
Hershey Canada has plants in Saint-Hyacinthe and Granby, Que.