The Synbiotic corporate group acquires a majority stake in Cannacare Health with its CBD brand Canobo and the emerging CBD network marketing subsidiary WellnetIQ. As part of the acquisition, investor and Cannacare shareholder Frank Otto invests three million euros in the form of a capital increase in cash in Synbiotic.
Frank Otto says:
“Synbiotic SE is the future of the European cannabis industry for me. No other corporate group views this exciting market so holistically. When Michael Oplesch, whom I know from our joint founding of Viva, approached me about hemp, cannabis, and CBD a few years ago, I was immediately enthusiastic. For decades, my stated entrepreneurial goal has been to achieve economic success while making the world better and more sustainable.”
The publicly listed Synbiotic corporate group pursues an EU-focused buy and 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 Solidmind Group, The Hempany, or Lean Labs. The corporate group encompasses the entire supply chain from cultivation through production to retail – from field to shelf. Core businesses include research and development, production, and marketing of hemp, CBD, and cannabis products in both the medical and recreational sectors.
Synbiotic: hemp pioneer joins as new director
With Daniel Kruse, the cannabis company strengthens its management 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. Since 2013, Kruse has served as a board member of the European Industrial Hemp Association (EIHA) and was elected president in 2019. Kruse is also deputy chairman of the Federation of International Hemp Organizations (FIHO).
Daniel Kruse on his new role:
“I am grateful for the trust of the board 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 through the possibilities this plant offers.”
