Organigram has closed its previously announced acquisition of Sanity Group, a cannabis company based in Germany.
Sanity Group has operations in Switzerland, the United Kingdom, Poland and Czechia, and it has developed a diversified commercial footprint across medical cannabis, regulated recreational pilot programs and wellbeing products.
Organigram is paying €113.4 million (about $133.6 million), a total that could double depending on financial performance.
In connection with the closing of the acquisition, Max Konrad Narr has been appointed to the company’s board of directors.
“The proposed acquisition of Sanity Group marks a pivotal step in Organigram's global expansion strategy as a leader in the rapidly expanding cannabis industry,” said Organigram CEO James Yamanaka in a statement. “This transformational acquisition will bring together two market leaders, extend our commercial footprint into Europe, and strengthen our competitive edge in the world’s largest federally legal cannabis markets.”
