Sanity Group, one of Germany’s largest cannabis companies has inked a deal with premium Canadian retailer High Tide.
The non-binding letter of intent is designed to ‘leverage synergies between both complementary companies and position each to take advantage of potential German adult use legalisation within their respective supply chain verticals’, announced High Tide in a press release.
It continued: “Sanity Group and High Tide intend to work together on go-to-market strategies, identification of quality M&A opportunities, sourcing of high-quality real estate, expansion within European markets, and regulatory compliance topics such as licensing and government outreach.”
Raj Grover, President and Chief Executive Officer of High Tide, said: “We want to be well positioned to bring this success to the German market, should the government proceed with its publicly stated goal to legalise cannabis for adult use.
“This is why we are proud to partner with a top player in the German medical cannabis space like Sanity Group, particularly since our business models are complementary in nature.”
Finn Hänsel, Chief Executive Officer of Sanity Group, said: “We are very excited and proud to lay the foundation for a strong and trustful partnership in case of recreational cannabis legalisation in Germany with a top player like High Tide through this letter of intent.
“High Tide stands for great experience and expertise in building retail cannabis brand strategies like no other player. We strongly believe in the mutual value of this partnership.”
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