Switzerland-based cannabis company Astrasana Holding AG, with operations in the Czech Republic, Germany and Japan, has reached an agreement with Belgian cannabis products market leader DLH/Nexgen for a minority acquisition valued at €2.5 million.
Astrasana Holding AG is a fully vertically integrated cannabis company with key personnel in each of the key markets in which it operates. The international company was founded by Yves Antoniazzi and his long-time European business partners. The company specializes in the production and distribution of medical cannabis and operates a state-of-the-art indoor flower production facility in Switzerland with an annual production capacity of 3000 kg of flowers and extracts.
"Given that the European cannabis legalization process has accelerated tremendously over the past 12 months, we are naturally joining forces to target the Belgian THC market, where DLH/Nexgen has the perfect infrastructure and network.", explained Astrasana's CEO Yves Antoniazzi, who has worked for some of Europe's most prestigious cannabis companies over the past six years.
DLH/Nexgen CEO Joeri Perneel heads Belgium's largest legal cannabis company and is considered a pioneer in Belgium after declaring CBD flower under 0.2% THC as a taxable cannabis product in 2019. Today, his Sensy and Jane's Garden flower products are listed in over 3500 retail outlets and convenience stores in Belgium. His company's networks also include seven cannabis dispensaries called Florapoint, located in the country's most popular locations.
Mr. Perneel said: "In the last two years, the cannabis market and its potential have developed massively across Europe. Today, a strong international infrastructure allows companies to expand their product range and markets worldwide. The merger with Astrasana provides the perfect opportunity to conquer the future of cannabis together."
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