Julia Irvine 27 Nov 2019 04:51pm

Deloitte Canada grows its own cannabis consultancy

Deloitte Canada has bought up Ontario-based consultants, Cannabis Compliance Inc (CCI), in a major move that will see its growing cannabis consulting arm double in size

One of the original cannabis consultancies, CCI was set up in 2017 ahead of Canada's legalisation of cannabis for recreational purposes, and has become a trusted advisor to many Canadian cannabis leaders.

According to Deloitte, their combined forces will offer “deep knowledge across the entire cannabis consulting spectrum”.

“Canada has quickly become a global leader in the cannabis industry,” said Deloitte Canada CEO Anthony Viel. “As legislation evolves in other countries, it’s important for businesses to understand and prepare for unique risks and challenges.

“Businesses will need to continue innovating to secure a healthy, sustainable competitive position. By putting Canadian values at the forefront, we can shape the future of responsible and competitive cannabis business growth to help the industry mature in Canada and around the world.”

CCI’s 75 employees are moving into the Deloitte office in Toronto and CCI’s founder and chair, Brian Wagner, will join the firm as a senior advisor. CCI’s president and CEO Dale Hooper, CFO Sid Hathiramani and vice president of quality and regulatory Karina Lahnakoski all join the Big Four firm as partners in the risk advisory practice.

Deloitte says that the cannabis sector offers important and exponential growth opportunities, both nationally and globally. So combining Deloitte and CCI’s knowledge and experience will “provide clients with the insights they need to compete in today’s market while establishing a progressive vision for an ever-changing future”.

In October this year, the Canadian government implemented the second stage of legalisation covering the manufacture and sale of edibles, drinks and other alternative cannabis products. This move is expected to open up a consumer market worth more than Can$2.5bn (£1.4bn).