Aurora Cannabis just announced that it has acquired Pedanios GmbH, a German leading wholesale importer and exporter, as well as distributor of medical cannabis in the EU.
Since December of 2015, Pedanios has been successfully importing, exporting and distributing medical cannabis into and within the European Union. The federally licensed medical and narcotic wholesale and GMP inspected narcotic import company has all relevant licenses and permits.
In January, German parliament had passed a new medical cannabis law that allows physicians access to established pharmacies as the point of sale. Pedanios saw its monthly sales double in March as a result and is still growing. With 80 million German citizens benefiting from the new law, Pedanios is also benefiting. The company wholesales medical cannabis to over 750 pharmacies and has the widest selection of products of any distributor in the German market.
“This is a transformational acquisition for Aurora, and a key step in our aggressive international expansion strategy,” said Neil Belot, Aurora’s Chief Global Business Development Officer.
“The transaction will ensure ongoing and increasing high quality product is available to fuel Pedanios’ rapid growth, while positioning Aurora and Pedanios to seize upon opportunities together in Germany and the EU’s emerging cannabis industry.”
“Pedanios, with first mover success in the EU, has proven itself as one of the world’s most trusted and scalable importers, exporters, and distributors of wholesale medical cannabis. Patients, physicians, and pharmacies across the EU recognize the Pedanios brand as the trusted source for high quality GMP certified medical cannabis,” said Terry Booth, CEO. “The Pedanios team share Aurora’s vision, our high standards, and our intentions to play a leading role in shaping the future of the global cannabis industry. In addition, because the average market prices are higher in Germany than in Canada, we expect German sales to positively impact our average sales price per gram.”
“Canada and Germany are among the world leaders in medical cannabis, and as trailblazers in our respective countries, Pedanios and Aurora are well positioned to continue to drive innovation, expand our distribution network, and capture significant global market share,” said Patrick Hoffmann, Pedanios’ Co-Founder and Executive Partner.
“We look forward to the synergies that our combined companies will deliver to shareholders and stakeholders alike.”