Synbiotic SE takes over parts of several hemp companies

The start-up paid 11.2 million euros for this, but was also able to raise its revenue forecast for 2021 to 15 million euros.

Synbiotic SE, which claims to be the largest listed hemp and cannabis company in Europe, has acquired 50.1 percent of the shares in several companies in its sector: Hanf Farm GmbH, Hemp Factory GmbH, Hempro International GmbH and MH medical hemp GmbH. Synbiotic paid 11.2 million euros for the shares and secured the option to purchase 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 that his company has acquired are owned by cannabis entrepreneur Daniel Kruse. He has been active in the hemp food and cannabinoid sector for over 25 years. He is also President of the European Industrial Hemp Association (EIHA). Kruse represents the interests of the hemp industry before the European Union and the German government.

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 designed to help with pain, sleep and anxiety. The company is also active in the food supplement and cosmetics markets.