Carlsquare advised the shareholders of CannaCare Health GmbH on the sale to Elixinol Global Limited
On Friday, 12th March Elixinol Global Limited signed a binding deal to acquire Hamburg-based cannabidiol (CBD) pioneer CannaCare Health GmbH (“CannaCare”)
CannaCare is the brand owner of Canobo®, the leading German brand for high-quality CBD-based products in the national drugstore and pharmacy channels and one of the top 5 CBD brands in Germany. CannaCare has positioned itself as a renowned purveyor of high-quality CBD health and wellness products which are distributed across over 2400 points of sale of leading German drugstore chains such as Rossmann and Budnikowsky, pharmacies as well as HSE24, Germany’s biggest TV shopping channel and online marketplaces. In 2020, Carlsquare had already advised CannaCare on a growth investment from Altitude Investment Management.
For over 25 years, Australian Sydney-based Elixinol Global Limited has been focussing on the global science, research and development of top-quality hemp and cannabinoid products. Elixinol’s mission is to improve the quality of people’s lives through the power of the hemp plant. The wellness and skincare product ranges are distributed across the globe in the U.S.A., North and South America, throughout Europe, Asia and the Pacific Region. Elixinol’s parent company EXL (elixinolglobal.com) is publicly traded on the Australian Securities Exchange and has a second listing in the USA on the OTC market (OTCQB).
CEO of Elixinol Global, Oliver Horn commented: “We are incredibly excited about this transformational opportunity which leapfrogs Elixinol Global closer to its vision of becoming a profitable, global, hemp derived consumer goods wellness business. By acquiring Germany’s CannaCare we gain a strong foothold in Europe’s fastest growing market and, together with our established UK business, will become a leading pan-European business of scale. This acquisition enables us not only to quickly reach critical scale but also to open up new opportunities to cross sell our portfolios and leverage the new scale to reduce our cost of doing business.”
Frank Otto, largest shareholder of CannaCare Health GmbH, added: “CannaCare Health and our Canobo® products are a phenomenal success story. As part of the Elixinol Global Group, we want to continue on this trajectory and continue to grow profitably. Personally, I am looking forward to contributing from our positive experience and expertise as a new member of the Elixinol Global Board to our mutual success. The dedicated Carlsquare team led by Arnold Holle identified the ideal partner for CannaCare and led us through the process with calm competence and impressive efficiency.”
Carlsquare acted as the exclusive financial advisor to the shareholders of CannaCare Health GmbH.
CannaCare Health GmbH:
Elixinol Global Limited: