Synbiotic SE takes over parts of several hemp companies

The start-up paid €11.2 million for the deal, but it also allowed it to raise its revenue forecast for 2021 to €15 million.

Europe's largest listed hemp and cannabis company, Synbiotic SE, takes over 50.1 percent of the shares of several companies in its sector: Hanf Farm GmbH, Hemp Factory GmbH, Hempro International GmbH and MH medical hemp GmbH. Synbiotic paid €11.2 million for the deal and secured the option to buy the remaining 49.9 percent at a later date. The cannabis group is thus raising its revenue forecast for 2021 to 15 million euros.

"Comparable acquisitions have only been made in Canada so far," explains Lars Müller, CEO of SynBiotic SE. "This makes the merger the most significant in the European cannabis sector." All four companies his firm acquired are owned by cannabis entrepreneur Daniel Kruse. He has been in the hemp food and cannabinoid business for over 25 years. He is also the president of the European Industrial Hemp Association (EIHA). Before the European Union and the German government, Kruse represents the interests of the hemp industry.

Synbiotic SE claims to cover the entire supply chain - from cultivation to production and trade. The company also conducts research, development, production and marketing of cannabinoid- and terpene-containing solutions. These are said to help with pain, sleep and anxiety. The company is active in the dietary supplement and cosmetics markets, among others.