Sherbrooke: the Neptune Solutions Bien-être plant has been acquired

Sherbrooke: the Neptune Wellness Solutions plant has been acquired ;e

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The plant of Neptune Solutions Bien-être in Sherbrooke, in the Eastern Townships, will be bought by the company PurCann Pharma of Quebec and will therefore ultimately not be dismantled. 

“The full divestiture of our cannabis business is a critical step in executing our strategy to become a leader in the consumer packaged goods industry,” the CEO said Monday. financial partner of Neptune, Ray Silcock, in a press release.

The Pepin Street plant, in the industrial park, was closed last July in order to restructure its activities, and had led to the closure of about 70 jobs.

PurCann Pharma, a subsidiary of the SiliCycle Group, acquired it for just over $5 million and said that the plant would keep the same vocation.

The acquirer specializes in the production and marketing of cannabinoid-based products sold in bulk and as f inis such as oils, creams, capsules and sprays.

Its therapeutic and recreational brands are distributed in branches of the Société québécoise du cannabis (SQDC) and specialty stores across the country.

The company was planning the construction of a new factory to increase its production capacity, this acquisition will allow it to achieve this objective.

A large part of the production will therefore be transferred here in Sherbrooke, while the space freed up in its Quebec plant will be used for research and development.