British medical cannabis company Grow announced today that it has acquired a major medical cannabis production facility in Spain – a move which transforms Grow into an integrated cannabis production, R&D, and distribution company. This transaction will enable the firm to deliver further on its mission of providing the broadest portfolio of quality cannabis medicines to patients across the world at the most accessible prices.
The deal, to acquire 100% of the share capital of Sanoid Isolates, will see Grow own and control its own sustainable and cost competitive supply chain for cannabis medicines. The Sanoid facilities are based near Sevilla in the heart of Spain’s southern agricultural region and enjoy some of the longest sunlight hours in Europe. The facility includes eight hectares of sustainable and low-cost sun-grown production capacity, inclusive of four hectares of fully constructed high-tech greenhouses. In partnership with one of Spain’s leading agricultural producers, Grow aims to be a global leader in scalable and environmentally sustainable cannabis production.
Founded in 2017, Grow’s strength has been built on its partnership with leading medical cannabis brands, including established leaders such as Aurora, Tilray and Columbia Care, to market and distribute their products in the UK.
By owning the supply chain and the extraction process, and incorporating Grow’s proprietary innovative and highly efficient cannabis processing technologies developed in-house over four years of research and development, Grow will also be able to deliver these products at a far lower cost to patients.
Grow currently accounts for around 20% of the rapidly-growing UK cannabis medicine market and the acquisition of Sanoid helps to cement its role as UK industry leader, while paving the way for global growth. The transaction also gives Grow an immediate footprint in Spain, from which it will expand with distribution operations across Iberia once Spanish legislation allows.
Grow’s CEO Ben Langley said: “This acquisition showcases our ambition to become Europe’s leading supplier of cannabis medicines, creating an efficient supply chain from farm right through to pharmacy, to better serve thousands of patients. It will allow us to produce new cannabis medicines that the market needs, while giving us the infrastructure to carry out production and extraction efficiently and cheaply. The deal not only solidifies our ability to produce medicines for those patients we support in the UK, but will also support us as we expand globally.”
Grow currently provides over 1,200 people in the UK with cannabis medicines, and recently made history by becoming one of the first ever UK cannabis medicine startups to complete a crowdfund, hitting their minimum fundraising target of around €3.7 million within an hour of the crowdfund opening publicly.