Berlin/Frankfurt—Dentons’ German offices have successfully completed a major transaction advising a subsidiary of leading Canadian medical cannabis supplier Canopy Growth Corporation on the acquisition of all the shares in German inhaler manufacturer Storz & Bickel GmbH & Co. KG held by the private individuals Markus Storz and Jürgen Bickel for €135 million.
January 11, 2019
Storz & Bickel develops and produces specialized hot air extraction inhalers as serial products worldwide. The company also offers medically approved inhalers for the application of cannabinoids and has won great recognition in the area of cannabis research and among medical professionals.
With the acquisition of the Baden-Wuerttemberg based company, Canopy Growth has established another important pillar in the German and wider European market, while also benefiting from an expanded distribution network.
Dentons advised Canopy Growth Corporation on this transaction during the entire due diligence process, as well as the subsequent drafting and negotiations of the purchase agreement, and assisted with the notarization. Peter Homberg and the German Life Sciences team (Malte Goetz, Judith Heimbürger) acted as lead counsel in the transaction. Michael Graf, Thomas Voss, Thomas Treffer (Tax), Frank Lenzen (Labor law), Daniel Barth, Felix Krüger (Corporate), Jörg Karenfort, Norman Hölzel, Franziska Peters (Antitrust and Competition) and Dirk-Reiner Voss, David Lange, Michael Bayliss, (Real Estate) were also involved in the transaction.
Ottawa based partner James M. Wishart is responsible for the global client relationship with Canopy Growth.
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