On Monday, the cannabis industry witnessed the creation of the world's largest cannabis company measured by revenue, as two Canadian giants, Tilray Inc. (NASDAQ: TLRY) and Aphria Inc. (NASDAQ: APHA), announced the closing of their merger.
Irwin Simon, CEO of the 'new' Tilray and former Aphria CEO, called Tilray "the right partner."
"We had to do some consolidation there," Simon said of the Canadian cannabis market.
And while there were "stops and starts" during the merger talks with Brendan Kennedy, current director and former Tilray CEO, they finally sat down and came to a beneficial arrangement for shareholders of both companies, Simon told Cannabis Insider.
"I think there are times individuals like to do something differently," and "times you want to step back," Simon commented on Kennedy taking a more passive role following the merger.
Building Cannabis Business As CPG Business
Simon also addressed cannabis as a quickly evolving category, emphasizing that cannabis needs to be cannabis from the product standpoint.
"We're not marijuana, we're …