HERZLIYA, Israel – InterCure Ltd. (NASDAQ: INCR) (TASE: INCR), a leading vertically integrated medical cannabis company, has entered into a strategic agreement with the globally recognized cannabis brand Cookies to introduce Cookies Corners in Germany. This collaboration is set to cultivate, manufacture, import, and distribute Cookies branded products in Germany, expanding InterCure’s European presence which already includes the UK and Austria.
The partnership, leveraging InterCure’s EU-GMP manufacturing sites, will produce Cookies-branded products, including a future range of next-generation offerings. These products will be available through Cookies Corner licensed pharmacies and online platforms, providing the official Cookies retail experience.
This move follows Germany’s “CanG” Cannabis Act, which came into effect on April 1st, 2023. A report from the Bloomwell Group indicates a 400 percent increase in medical cannabis prescriptions in Germany from March to June 2024, signifying the market’s growth following the legislation.
InterCure’s CEO, Alexander Rabinovitch, expressed enthusiasm for the expansion into Germany, a key medical cannabis market in Europe. He highlighted the significance of introducing Cookies’ retail experience in Germany through Cookies Corners, which will be located in 8 major German cities.
Parker Berling, President of Cookies, also commented on the partnership, citing the momentum around cannabis legalization in Germany as groundbreaking and indicative of a new era for Europe. He mentioned the cultural connection of Cookies’ founder Berner to Germany, adding that the UK’s role in the rise of California cannabis is also pivotal.
The press release also outlines InterCure’s position as a profitable and fast-growing cannabis company outside North America, with Canndoc, its subsidiary, being Israel’s largest licensed cannabis producer. Cookies, on the other hand, is known for its proprietary cannabis cultivars and extensive product range, with over 70 retail locations in 20 markets across 6 countries.
The forward-looking statements in the press release indicate InterCure’s global expansion plans and market strategy, subject to risks and uncertainties that could impact actual results.
This article is based on a press release statement, providing a factual overview of the strategic agreement between InterCure and Cookies to expand their cannabis business in Germany.
