Canopy Growth CEO sees 'more consolidation' ahead

Canopy Growth Corp.’s top executive is predicting more consolidation in the industry and says the company is well-positioned given its balance sheet.

David Klein, the chief executive officer at Canopy Growth, said in an interview with BNN Bloomberg Friday that the company is in “really good” shape from a balance sheet standpoint and pointed to strong margins across its business units. He also said he expects changes in the industry going forward.

“I think there'll be more consolidation. But, in Canada last year about 50 per cent of the CCAA filings were cannabis companies,” Klein said. 

“So I think the industry's kind of cleaning itself out a little bit as we go. So some of that will be consolidation, some of that will be just better performance of the existing players.”