SYNBIOTIC SE / DE000A3E5A59
08.05.2024 - 14:27:26Acquisition of WEECO Pharma: SYNBIOTIC significantly expands its position in the medical cannabis market
| SYNBIOTIC SE / Key word(s): Takeover 08.05.2024 / 14:27 CET/CEST The issuer is solely responsible for the content of this announcement. The German industrial hemp and cannabis group SYNBIOTIC SE acquires WEECO Pharma GmbH from Hildesheim/Germany. The merger makes SYNBIOTIC one of the most important players on the German and European market for medicinal cannabis. "With WEECO Pharma, our group of companies now has a full range of high-quality cannabis flowers. Together with our other ventures MH medical hemp and SYNBIOTIC Distribution, we are in a position to offer the full MedCan range of flowers as well as extracts and dronabinol - especially in the segment of alternative administration forms," explains Daniel Kruse, CEO SYNBIOTIC. "This will significantly strengthen our market position in the medical cannabis market." "In SYNBIOTIC, the WEECO Pharma team has found a partner that will consistently continue, accelerate and support its successful growth trajectory. In this constellation, WEECO Pharma will continue on its chosen course as a flagship in the medical cannabis sector," says Malte Johannes, Managing Director of WEECO Holding. "I'm not a fan of empty phrases, but 'the whole is greater than the sum of its parts' hits the spot in this case." As a German importer and wholesaler, WEECO Pharma brings together an international network of medical cannabis producers, including some of the world's leading EU GMP manufacturers. The company specialises in national and international trade in medicinal cannabis, including genetics developed in-house. In addition, WEECO Pharma is increasingly focussing on product development for extemporaneous formulations in cooperation with selected pharmacies and doctors. WEECO also has excellent expertise in the field of new cannabis genetics. In a facility licensed for scientific purposes in Denmark, WEECO is developing new cannabis varieties that have their genetic origins in one of the world's leading cannabis markets in California/USA. "The acquisition of WEECO Pharma is another key milestone in our successful buy and build strategy," says Daniel Kruse, CEO SYNBIOTIC. "WEECO Pharma's forecast turnover for 2024 is around five million euros. For SYNBIOTIC, this would mean that the planned turnover of the entire group could exceed 20 million euros this year. WEECO Pharma should develop into a real asset for our investors and shareholders." Publisher SYNBIOTIC SE Daniel Kruse, CEO Münsterstrasse 336 40470 Düsseldorf Germany Media contact Rüdiger Tillmann SYNBIOTIC Public Relations Manager E-mail ruediger.tillmann@synbiotic.com Mobile +49 170 9651451 c/o JOLE.group About SYNBIOTIC SYNBIOTIC is a listed group of companies in the hemp and cannabis sector and pursues a buy and build investment strategy focussed on the EU. The group covers the entire value chain from cultivation to production and retail - from the field to the shelf. The core businesses of the vertically integrated company are research and development, production and commercialisation of hemp, CBD and cannabis products. SYNBIOTIC has a clear strategy to further expand along the value chains of its business areas - hemp and CBD, medical cannabis and consumer cannabis. 08.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| Language: | English |
| Company: | SYNBIOTIC SE |
| Münsterstr. 336 | |
| 40470 Dusseldorf | |
| Germany | |
| E-mail: | office@synbiotic.com |
| Internet: | https://www.synbiotic.com/ |
| ISIN: | DE000A3E5A59 |
| WKN: | A3E5A5 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich, Tradegate Exchange |
| EQS News ID: | 1898893 |
| End of News | EQS News Service |
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