Top UK Medical Cannabis Firm Acquires Spanish Producer Sanoid
Grow Group, a UK medical cannabis firm, announced on Wednesday the acquisition of Sanoid Isolates, a key medical cannabis producer in Spain.
The deal – to acquire 100% of the share capital of Sanoid Isolates – enables Grow to become an integrated cannabis production, R&D, and distribution company.
The Sanoid facilities are based near Seville in the heart of Spain’s southern agricultural region and includes eight hectares of sun-grown production capacity, inclusive of four hectares of fully constructed high-tech greenhouses.
Grow currently accounts for around 20% of the rapidly-growing UK cannabis medicine market and the acquisition of Sanoid helps to cement its role as UK industry leader.
Grow CEO, Ben Langley, said: “This acquisition showcases our ambition to become Europe's leading supplier of cannabis medicines, creating an efficient supply chain from farm right through to pharmacy, to better serve thousands of patients.
“It will allow us to produce new cannabis medicines that the market needs, while giving us the infrastructure to carry out production and extraction efficiently and cheaply. The deal not only solidifies our ability to produce medicines for those patients we support in the UK, but will also support us as we expand globally.”
The British company currently provides over 1,200 people in the UK with cannabis medicines.