
BAT buys £126m stake in Canadian cannabis firm OrganiGram
British American Tobacco is to buy close to a 20% stake in Canada-based cannabis producer OrganiGram for about £126m as BAT diversifies beyond its main tobacco business. OrganiGram grows cannabis and makes cannabis-derived products in Canada where non-medical use of the drug was legalised in 2018. Big tobacco and drinks companies in North America have already made large investments in the cannabis industry, with the drug seen as a less-harmful alternative to cigarettes. Democratic lawmakers in the US are promising to decriminalise cannabis use at a national level, prompting analysts and experts to predict record investment in the industry this […]