Flora Growth Corp. (NASDAQ: FLGC) Acquisition of Franchise Global Health Completed, Rapid Jump in Potential for European Cannabis Sales
Jan 6, 2023
- International cannabis operator Flora Growth Corp. is rapidly expanding its global footprint and Colombia-based international supply chain thanks to strategic acquisitions during the past several months
- Flora’s most recent acquisition was concluded just before Christmas on finalization of an agreement with multi-national operator Franchise Global Health Inc. that strengthens Flora’s position in Europe
- Franchise Global Health (“FGH”) serves 1,200 pharmacies in Germany, which the companies regard as the doorway to the rest of Europe, and it also has a footprint in Portugal and Denmark, while Flora Growth has completed exports to Switzerland and the Czech Republic
- Flora reported a 604 percent YOY increase in revenues for the first half of the year and recently added an increase of 414 percent YOY for the Q3 period
Cannabis cultivator and global distributor Flora Growth (NASDAQ: FLGC) is entering the new year with its latest acquisition completed, opening the way for accelerated expansion into Europe’s marketplace.
Franchise Global Health Inc. (TSX.V: FGH) announced Dec. 23 that it had completed arrangements for Flora Growth to acquire its issued and outstanding shares, and that the former holders of common shares of Franchise Global Health would be delisted from the TSX Venture Exchange on or about Dec. 28 as…
NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://cnw.fm/FLGC
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