Canapar

About Canapar

Canapar is an Italian company specializing in the organic cultivation of hemp and the processing of its derivatives, such as CBD oil, distillates, and isolates. Founded in Ragusa, Sicily, in 2018, the company established an outsourced farming model, creating a network of agricultural producers in Southern Italy to cultivate industrial hemp. It supports these farmers with technical assistance and education, in partnership with the Department of Agriculture, Food and Environment at the University of Catania, to identify the most suitable hemp varieties for the Mediterranean climate and to refine cultivation techniques.

The company's primary business involves processing hemp biomass in its pharmaceutical-grade facility in Ragusa, which was planned to be one of the largest in Europe with a capacity to process over 600 tons of biomass annually. The extracted products are intended for the pharmaceutical, cosmetic, nutraceutical, and veterinary industries. Canapar was founded with the objective of leveraging Sicily's favorable climate for high-quality hemp production and its strategic position in the Mediterranean.

In its early stages, Canapar secured significant investment from Canadian investors, including a lead investment from Canopy Rivers, the venture capital arm of Canopy Growth. By June 2021, Canapar was fully acquired by RAMM Pharma Corp., a Canadian pharmaceutical company, in a move designed to create a multinational entity with operations in Europe, Canada, and Latin America. The acquisition, valued at approximately $21.7 million, was intended to increase Canapar's exports of "Made in Italy" branded products and expand its portfolio into new markets, including veterinary medicine. The company is led by CEO Sergio Martines.