Greenhouse, a Toronto-based healthy beverage company, has raised $9 million in financing from Canopy Rivers, the venture capital arm of Canadian cannabis producer Canopy Growth Corp.
Founded in 2014 by Anthony Green, Emma Knight and Hana James, Greenhouse manufactures plant-based beverage products, including cold-pressed juices.
The investment by Canopy Rivers is part of a strategic partnership to help launch a new line of cannabidiol-infused beverages.
Canopy Rivers will also support Greenhouse’s national growth strategy, which will include new retail partners, new stores in key urban markets, and expanded e-commerce capabilities.
PRESS RELEASE
Greenhouse Announces National Expansion Plans, Creation of New Line of CBD Beverages and Strategic Partnership with Canopy Rivers
January 14, 2019 – TORONTO, ON – Canadian plant-based beverage brand and manufacturer Greenhouse announced today national expansion plans and the creation of a new line of Cannabidiol (CBD)-infused beverages, positioning the company as a first-mover into the new cannabis-inspired era of plant-based wellness. The company also announced today a strategic partnership and $9M financing round with Canopy Rivers Inc. (TSXV:RIV) to fuel growth plans.
Founded in 2014 by Anthony Green, Emma Knight, and Hana James, Greenhouse is on a mission to offer widespread, sustainable access to plant-based nutrition of the highest quality. In five years, the company has grown from a single shop in Toronto that doubled as its sole retail outlet (by day) and production facility (by night), to a vertically integrated, omnichannel business with 15 corporate-owned retail stores, a direct-to-consumer delivery and subscription service from greenhouse.ca, and hundreds of partner retail locations including national grocery chains and specialty boutiques. The company was also recently named as one of Strategy Magazine’s Brands of the Year in 2018.
Canada-wide expansion plans
Through 2019 and beyond, Greenhouse is expanding its distribution network beyond Ontario, with new retail partners Canada-wide, new stores in key urban markets, and expanded e-commerce capabilities.
“All of the conditions are in place for us to become a truly national brand in plant-based wellness. Canadians’ appetite for organic, plant-based food and beverages continues to grow and we have five years of experience innovating in this space. Last year we unveiled a proprietary process we call Light Filtration that keeps our cold-pressed beverages’ flavour and nutrients intact while extending shelf life, and have expanded to a new, state of the art 35,000 square-foot manufacturing facility. We are ready and excited to introduce Greenhouse to new consumers across the country,” says Anthony Green, co-founder of Greenhouse.
An expanding product platform with CBD as a new wellness ingredient
No longer just a juice company, Greenhouse now boasts six organic plant-based product lines including cold-pressed juices, kombuchas, nutmilks, probiotic hydrators, shakes and booster shots. With growing consumer interest in wellness and the recent legalization of cannabis in Canada and other international markets, Greenhouse also announced today its intent to build a new product line around the wellness properties of CBD—cannabidiol—a non-psychoactive compound found in the cannabis plant.
“CBD shows evidence-based promise as a potent wellness ingredient. Through new product innovation, we’re excited to explore the potential of a plant whose health-giving properties have long been overshadowed by its flashier psychotropic ones,” says Emma Knight, Greenhouse co-founder.
A strategic partnership and funding from Canopy Rivers
Finally, to fuel its growth plans, Greenhouse together with Canopy Rivers announced today a strategic partnership and $9M financing round. Canopy Rivers is a unique investment and operating platform structured to pursue investment opportunities in the emerging global cannabis sector. “We’re very excited to partner with Canopy Rivers, a global player in cannabis innovation with a network of relevant strategic partners, to introduce our brand to this exciting new category and unlock the wellness potential found in CBD-based beverages,” says Green.
For more information about Greenhouse please visit www.greenhouse.ca
For more information contact:
Emma Knight
Co-Founder and Head of Marketing
emma@greenhouse.ca