Germany’s SynBiotic SE has acquired 50.1% of a leading group of German hemp companies from industry veteran Daniel Kruse for €11.2 million (~$12.6 million) in a key strategic matchup that creates one of the most powerful hemp enterprises on the European market. Munich-based SynBiotic, the largest publicly traded group of cannabis companies in Europe, said following the announcement of the deal that it expects combined operations to reach 2021 sales of €15 million on a pro forma consolidated basis. “This combination makes SynBiotic SE the next unicorn candidate and a dream partner for me,” said Kruse, who will continue to manage the four companies involved in the transaction. “The supply chain of our group of companies makes an excellent addition to the enormous dynamism of SynBiotic SE,” Kruse said. Kruse, who recently marked 25 years in the hemp industry, heads the fleet of companies that span a number of hemp sectors. They include Hanf Farm GmbH, the largest organic hemp farming company in Europe; Hempro International GmbH, the biggest hemp food distributor in Central Europe; solar-powered Hemp Factory GmbH, the largest hemp food processor in Central Europe; and MH medical hemp GmbH, a CBD maker which also holds medical marijuana import and distribution licenses for Germany. SynBiotic SE researches, develops, and produces cannabinoid-based products. The company makes food supplements and cosmetics is active in the medical cannabis sector and said it intends to get into the recreational cannabis market. The vertically integrated company’s operations span cultivation, production, and retail sales.

Cannabis Law Report, 12/01/2021 20:07:00

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