SYNBIOTIC SE Acquires WEECO Pharma, Bolsters Presence in Medical Cannabis Market

SYNBIOTIC SE, a prominent German industrial hemp and cannabis group, has announced the acquisition of WEECO Pharma GmbH, a development poised to substantially enhance its standing in the German and European medicinal cannabis sectors. This strategic merger integrates WEECO Pharma's capabilities with SYNBIOTIC’s existing operations, positioning the company as a key player in the industry.

Daniel Kruse, CEO of SYNBIOTIC, highlighted the enriched product range the company now boasts, including high-quality cannabis flowers and derivatives like dronabinol, aiming to strengthen its market reach. Meanwhile, WEECO Pharma’s Managing Director, Malte Johannes, views this union as an opportunity to continue their growth trajectory under SYNBIOTIC's robust structure.

WEECO Pharma is noted for its international trade expertise in medicinal cannabis and the development of new cannabis genetics, especially from a scientific facility in Denmark. These capabilities are expected to contribute significantly to SYNBIOTIC's market offerings and customer base.

The acquisition is part of SYNBIOTIC's ongoing strategy to expand its influence in the medical cannabis market, with projected group turnover expected to surpass 20 million euros for 2024, thanks to the contribution from WEECO Pharma. This move is set to provide substantial value to SYNBIOTIC’s shareholders and investors alike.