Is BioSteel Going Out Of Business 2024?

About BioSteel

BioSteel Sports Nutrition Inc. is a Canadian company. It specializes in producing supplements for athelets and exercise enthusiats.

History Of BioSteel

BioSteel was founded in 2009 by John Celenza and former ice hockey player Mike Cammerllleri. It is now based in Toronto, Canada.

When Did BioSteel Became Popular?

The brand became popular in 2010, when Gary Roberts reported about players drinking BioSteel during a Hockey Night in Canada.

Competitors Of BioSteel

1. Bad Axe Throwing 2. Ontario Soccer 3. Ottawa Sports 4. Toronto Cricket 5. Canadian Soccer

Why Is BioSteel Closing? 

The reason for fall of BioSteel is that the operating loss of the company was more than triple. It's marketing plans were also outdated.

Why Is BioSteel Closing? 

According to the CEO of Canopy Growth, David Klein, BioSteel has shown significant revenue over years. However, the brand doesn't aligns with the Canopy Growth's cannabis-focused asset-light strategy.

Who Owns BioSteel?

In 2019, Canopy Growth acquired BioSteel but as of 2024, the company is up for sale. It will be purchased by DC Holdings Inc and Gregory Packaging Inc.

Is BioSteel Going Out Of Business?

There's no denying that BioSteel has been in financial trouble lately and the parent company, Canopy Growth has decided to sell it. So, nothing can be said about the future of BioSteel.