Privateer adds marijuana edibles company The Goodship to its portfolio

Privateer Holdings has added an edibles company to its portfolio of marijuana businesses, marking the Seattle company’s first foray into the infused products sector.

According to a news release, The Goodship, a Seattle-based marijuana edibles company, said it had agreed to join Privateer’s “family of brands.” Terms of the acquisition weren’t disclosed.

The news release said the two companies plan to develop new products and expand the availability of The Goodship’s brands across North America – including Canada, which is preparing to launch adult-use sales next summer.

“When regulations allow, yes we intend to bring The Goodship to Canada,” Privateer spokesman Zack Hutson told Marijuana Business Daily in an email.

Here’s what you need to know:

  • Seattle-based Privateer Holdings also owns cannabis website Leafly, major Canadian licensed medical marijuana producer Tilray and Marley Natural, a California-based cannabis brand created in partnership with the family of reggae musician Bob Marley.
  • The Goodship sells cannabis-infused chocolate bars, cookies, brownies and other products.
  • The acquisition comes after Privateer announced in November that it would lay off some of its workforce. That followed job cuts of 15 Leafly employees a few weeks prior.
  • Privateer has raised more than $150 million – including $122 million in 2016 alone – to invest in a portfolio of cannabis brands.
  • The company now has more than 500 employees in seven U.S. states and seven countries.

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