Specifically, SynBiotic is acquiring 50.1 percent of Daniel Kruse's group of companies at a valuation of €11.2 million and has secured an option to later acquire the remaining 49.9 percent. The listed cannabis group is thus raising its 2021 revenue forecast to €15 million. With Daniel Kruse's four companies, SynBiotic's portfolio will be enriched with important infrastructure and profitable brands. Hanf Farm is considered the largest organic hemp farm in Europe, Hempro International is the largest hemp food distributor in Central Europe, and Hemp Factory is the largest hemp food producer in Central Europe. MH Medical Hemp, in turn, has established a reputation as a CBD expert and wholesaler with a THC narcotics license.
Daniel Kruse's companies thus join other cannabis companies that SynBiotic has brought together under its umbrella, such as the Solidmind Group, The Hempany, and Lean Labs. Even before the acquisition, the Munich-based company's portfolio covered the entire Value chain of the cannabis market The company's core business has so far been cannabinoid and terpene-based solutions for the treatment of pain, sleep, and anxiety disorders. However, the Munich-based company is also active in the dietary supplement and cosmetics markets. Startup already active. Now the recreational cannabis sector is also set to join.
“A true accolade in the cannabis sector”
Lars Müller, CEO of SynBiotic, says:
"The collaboration with Daniel Kruse is a true honor in the cannabis sector. SynBiotic SE will benefit massively from the half-century of expertise that industry pioneers Daniel Kruse and Rafael Dulon bring with them. Comparable acquisitions have previously only occurred in Canada. This makes the merger the most significant in the European cannabis sector. I am deeply honored by the trust Daniel Kruse and Rafael Dulon have placed in SynBiotic SE, and it shows that we are on the right track with our vision."
Daniel Kruse has been an entrepreneur in the hemp food sector for over 25 years, with a focus on cannabinoids. He is also President of the European Industrial Hemp Association (EIHA). His collaboration with international experts and the EIHA Advisory Committee combines in-depth practical and academic expertise in the hemp and food industries. He represents the hemp industry's stakeholders before the European Union and the German government. Daniel Kruse comments on the merger as follows:
"After 25 years in the hemp industry, it is a great pleasure and honor for me to have found the right partner for the coming decades in SynBiotic SE. Our group's decades of experience and supply chain are an excellent complement to the enormous dynamism of SynBiotic SE. Lars Müller and his team impress with their friendliness and charisma, but above all with their utmost professionalism and efficiency. This combination makes SynBiotic SE the next unicorn candidate and, for me, a dream partner. The European hemp and cannabis market will develop into one of the most exciting and successful industries in the coming years. The challenges that still need to be overcome are well known, but the resulting opportunities are unlimited."
