Canopy Growth, Alimentation Couche Tard partner on London pot shop

Tweed
Tweed sign at its Smiths Falls headquarters. File photo.

Cannabis company Canopy Growth Corp. says it's teaming up with Quebec retail giant Alimentation Couche-Tard Inc. to support a privately run pot shop in London, Ont.

In a news release Thursday, Smiths Falls-based Canopy says the two companies plan to form a multi-year strategic partnership involving a new cannabis outlet set to open in the city in April.

Currently, the only place to buy legal recreational weed in Ontario is through a government-run online outlet, the Ontario Cannabis Store, but private brick-and-mortar shops are set to open April 1.

The provincial agency responsible for regulating those stores, the Alcohol and Gaming Commission of Ontario, held a lottery last month to choose the entities that could apply for the initial 25 retail licences.

Canopy and Couche-Tard say they have entered into a trademark licence agreement with one of the winners of that lottery to open a store under Canopy's Tweed brand.

The companies say the lottery winner will continue to have “full ownership and control over the London store.”