Pharmasimple announces that it has taken a 5% stake in Phytocann Group, Swiss CBD expert in Europe
Houdeng-Goegnies (Belgium), August 9, 2022, 6 p.m. – Pharmasimple (ISIN Code: BE0974302342. Mnemonic: ALPHS) announces the signing of a strategic and financial partnership with Phytocann Group, a vertically integrated company and CBD pioneer in Europe.
This partnership takes the form of a 5% stake in the capital of Phytocann Group and a strong alliance in the distribution of cannabis products in pharmacies and via Pharmasimple’s internet platforms. The company has subscribed for €5 million to a capital increase reserved for it with a gradual release of funds over the next 16 months, i.e. by the end of December 2023.
The relaxation of European legislation on the sale of cannabis-based products and the trend observed in some countries to reserve their marketing to pharmacies alone make this a promising investment thesis for Pharmasimple.
This alliance is fully in line with Pharmasimple’s strategy to build a powerful network of pharmacies in Belgium, the objective of which is to ensure sustainable growth and profitability. Vertically integrating a range of products offering high margins and favorable development prospects fully contributes to this objective.
It should be noted that this investment will have no impact on the pharmacy acquisition schedule presented as part of the communication of Pharmasimple’s strategic plan providing for the acquisition within 5 years of 150 to 200 pharmacies.
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About Pharmasimple:
Pharmasimple, a specialist in the distribution of pharmaceutical and parapharmaceutical products, is one of the main players in Belgium and France through internet platforms and the ongoing creation of a large network of pharmacies. In 2021, Pharmasimple achieved a turnover of €30 million. Pharmasimple shares are listed on the Euronext Growth market. ISIN code: BE0974302342. Mnemonic: ALPHS.
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Full and original press release in PDF format:
https://www.actusnews.com/news/75938-pharmasimple-cp-prise-de-participation-dans-phytocanngroup-090822.pdf
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