The Synbiotic Group is acquiring a majority stake in Cannacare Health, including its CBD brand Canobo and its emerging CBD network marketing subsidiary WellnetIQ. As part of the acquisition, investor and Cannacare shareholder Frank Otto is investing €3 million in Synbiotic through a cash capital increase.
Frank Otto says:
"For me, Synbiotic SE represents the future of the European cannabis industry. No other corporate group takes such a holistic view of this exciting market. When Michael Oplesch, whom I know from our joint founding of Viva, approached me a few years ago about hemp, cannabis, and CBD, I was immediately enthusiastic. Making the world a better and more sustainable place through economic success has been my declared entrepreneurial goal for decades."
The listed Synbiotic Group pursues an EU-focused buy & build investment strategy in the hemp and cannabis sector. In addition to Cannacare Health, Synbiotic has already brought together numerous other cannabis companies under its roof, such as the Solidmind Group, The Hempany, and Lean Labs. The group encompasses the entire supply chain, from cultivation and production to retail – from the field to the shelf. In addition to research and development, its core businesses include the production and marketing of hemp, CBD, and cannabis products for both the medical and recreational sectors.
Synbiotic: Hemp pioneer as new director
With Daniel Kruse, the cannabis company is strengthening its management team with another experienced managing director. Daniel Kruse is the founder of five of Europe's leading hemp companies, which are already part of the Synbiotic Group. Kruse has been a board member of the European Industrial Hemp Association (EIHA) since 2013 and was elected President in 2019. Kruse is also Vice Chairman of the Federation of International Hemp Organizations (FIHO).
Daniel Kruse about his new role:
"I am grateful for the trust the Board of Directors has placed in me and look forward to working even more intensively for the Synbiotic Group. I am confident that we will continue the success story of Synbiotic and our portfolio companies. I am also very much looking forward to taking another major step forward in the hemp and cannabis industry together with Frank Otto. We share the common goal of successfully combining ecology and economy with the potential of this plant."
