Sanity Group, one of Germany’s largest cannabis companies, has reached an agreement with leading North American cannabis retailer High Tide.
The non-binding letter of intent aims to “leverage the synergies between the two complementary businesses and position each of them to take advantage of the potential legalization of cannabis in Germany in their respective vertical supply chains”, announced High Tide in a press release.
He continued, “Sanity Group and High Tide intend to work together on go-to-market strategies, identifying quality M&A opportunities, sourcing quality real estate, expanding into European markets and regulatory compliance topics such as licensing and government awareness. »
Raj Grover, President and CEO of High Tide, said: “We want to be well positioned to bring this success to the German market, should the government pursue its publicly stated goal of legalizing cannabis for adult use. »
“That is why we are proud to partner with a leading player in the German medical cannabis space like Sanity Group, especially since our business models are complementary in nature. »
Finn Hänsel, Chairman and CEO of Sanity Group, said: “We are very excited and proud to lay the foundations for a strong and trusted partnership in the event of the legalization of recreational cannabis in Germany with a leading player like High. Tide through this Letter of Intent. »
“High Tide has extensive experience and expertise in building retail cannabis brand strategies like no other player. We strongly believe in the mutual value of this partnership. »
The agreement calls for the company to work together on:
- Market access strategies
- Identifying merger and acquisition opportunities
- The search for real estate
- Expansion into other European markets
- Regulatory compliance issues, such as licensing and government awareness
