Freedonia Analyst Weighs in on Brink's Partnership With Canopy Growth

This Agreement Will Include Providing Secure Logistics & Cash Management Services to Canada's Largest Cannabis Producer

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Nov 14, 2018, 10:30 ET

CLEVELAND, Nov. 14, 2018 /PRNewswire/ -- On November 8, the Brink's Company announced that it had entered a multi-year agreement with Canopy Growth Corporation to provide secure logistics and cash management services for Canopy Growth's domestic and international cannabis operations. The agreement also includes a cross-selling program that enables Brink's to provide services to Canopy Growth's affiliated growers and retail customers.

Doug Pertz, Brink's president and CEO, said, "The rapidly growing cannabis industry requires security solutions for its products as well as its cash, and Brink's is uniquely positioned to provide these solutions. Our partnership with Canopy Growth, a leading producer and exporter of cannabis, diversifies our customer base and leverages BGS' global network of secure logistics operations."

According to Freedonia Group analyst Elliott Woo, "Canada legalized cannabis for recreational use effective October 17, 2018. In contrast to the US, cannabis-related businesses in Canada will have full access to financial institutions, so the industry is expected to be less cash-intensive than in the US. Still, the Canadian cannabis industry will remain heavily regulated, and growth will create opportunities for providers of guard, alarm monitoring, and secured transport services."

Furthermore, Jennifer Mapes-Christ, Freedonia's manager for consumer and commercial research notes, "Brink's is a well-established brand, positioning the company well in a new industry that is likely to be concerned about the effect of security lapses and unlikely to take a risk on a lesser known vendor."

Additional analysis of the private security industry can be found in the following Freedonia reports: Global Security Services and Private Security Services in the US. For more information on these and other security industry studies, please see Freedonia's Security segment.

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SOURCE The Freedonia Group