Cannabis Watch: This investor says Canopy’s proposed U.S. deal is a boon for the U.S. cannabis sector


Canopy Growth Corp.’s plan to acquire U.S. multistate operator Acreage Holdings Inc. as soon as cannabis is legalized in the U.S. has won the support of a U.S. private-equity firm that specializes in investments in the cannabis sector.

Matt Hawkins, managing partner of Cresco Capital Partners LLC, said Thursday that the $3.4 billion proposed deal is the “most significant” as well as the biggest deal in the sector so far, and brings a much needed infusion of capital to an industry that is starved of cash.

“As one of one of the best capitalized companies in the industry, Canopy Growth CGC, -0.31% WEED, -0.53% has introduced a creative structure to potentially gain a foothold in the United States, the most lucrative global cannabis market,” Hawkins wrote in a letter to his own investors. “From an Acreage perspective, it

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