Canopy USA, the American-based holding company of Canadian marijuana operator Canopy Growth Corp., has appointed M. Brooks Jorgensen as the fledgling entity’s first president.
Jorgensen, a cannabis and alcohol beverage industry executive with more than 25 years of experience, will focus on driving profitable growth across the United States for Canopy USA, according to a Monday news release.
Jorgensen was selected to lead the company roughly a month after Smiths Falls, Ontario-based Canopy Growth completed its acquisition of New York-headquartered marijuana multistate operator Acreage Holdings.
Evolution of Canopy USA
The completion of the Acreage acquisition follows Canopy Growth closing on the purchases of:
Canopy USA will be headquartered in Boulder, according to the Monday release.
Canopy Growth in 2022 announced plans to accelerate its entry into the U.S. cannabis market through the creation of Canopy USA.
Stockholders of the parent company signed off on Canopy USA in April 2024.
Jorgensen has worked in cannabis, liquor
“With the completed integration of the Canopy USA platform, this unique portfolio of brands together with a growing retail presence in key states represents significant upside in the dynamic U.S. cannabis industry,” Luc Mongeau, a member of the board of managers of Canopy USA and CEO of Canopy Growth, said in a statement.
“Brooks is an accomplished executive in high-growth industries and will help further unlock the full potential of Canopy USA, drive the organization to its next phase of growth and solidify its standing as a leader in the market.”
Jorgensen previously served as president of Kiva Sales & Service, a California-based cannabis distributor, and nearly 21 years in various roles with Southern Glazer’s Wine & Spirits, a Florida-headquartered liquor giant.
“Canopy USA is a unique platform with the right combination of ingredients to deliver success as a unified organization in what is considered to be a very challenging and complex industry, and I am confident the cannabis and hemp markets will support the Canopy USA vision and strategy,” Jorgensen said in a statement.
Canopy Growth trades on the Nasdaq stock exchange as CGC and on the Toronto Stock Exchange as WEED.
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