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EQS-News: SYNBIOTIC SE / Key word(s): Takeover
Acquisition of WEECO Pharma: SYNBIOTIC significantly expands its position in the medical cannabis market
2024-05-08 / 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.
2024-05-08 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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1898893 2024-05-08 CET/CEST

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1898893&application_name=news

END) Dow Jones Newswires

May 08, 2024 08:27 ET (12:27 GMT)