- Flora Growth is a cannabis cultivator and international brand developer with a strong base of operations at its licensed facility in northern Colombia
- Flora recently announced its plans to acquire multi-national operator Franchise Global Health (“FGH”), the latest of its strategic acquisitions designed to boost revenues and expand Flora’s international footprint
- FGH is focused on the German market, where its subsidiary was the first company to sell cannabis
- Germany is in turn expected to provide the companies a launching pad for success in Europe, where opportunity is defined by the fact that currently Germany provides 75 to 80 percent of Europe’s cannabis sales
- Flora has already reported cooperative agreements to increase its product distribution pipeline to Switzerland and the Czech Republic
Cannabis cultivator, brand manufacturer and global distributor Flora Growth (NASDAQ: FLGC) is aiming for continued revenue boosts through strategic acquisitions, announcing Oct. 24 that it will obtain the issued and outstanding shares of multi-national operator Franchise Global Health Inc. as the company positions itself to expand its wholesale cannabis sales and brand distribution operations in Europe.
The company stated in its news release that it expects the acquisition to result in at least $3 million of annualized cost synergies within the first year as they eliminate repetitive costs between the two companies (https://cnw.fm/ljXkj). Both companies expect to announce their Q3 financial reports in the…
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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