SynBiotic SE acquires 50.1% of Daniel Kruse’s group of companies at a valuation of EUR 11.2 million
It is the most significant merger in the European cannabis sector. SynBiotic SE has acquired 50.1% of Daniel Kruse’s group of companies, with four leading companies in their fields, at a valuation of EUR 11.2 million, thereby securing the subsequent acquisition of the remaining 49.9% by option. The listed cannabis group is hence raising its sales forecast for 2021 to EUR 15 million.
With Daniel Kruse’s four companies, Hanf Farm GmbH, Hempro International GmbH, Hemp Factory GmbH and MH medical hemp GmbH, SynBiotic SE’s portfolio is being enriched by important infrastructures and profitable brands. Lars Müller, CEO of SynBiotic SE: “The cooperation with Daniel Kruse is a genuine accolade in the cannabis sector. SynBiotic SE will benefit massively from what amounts to over half a century of combined know-how gathered by industry pioneers Daniel Kruse and Rafael Dulon. So far, the only comparable acquisitions have taken place in Canada. This makes this merger the most significant in the European cannabis sector. I am greatly honored by the trust Daniel Kruse and Rafael Dulon have displayed in SynBiotic SE; this shows that we are on the right track with our vision.”
Daniel Kruse has been an entrepreneur in the hemp food industry for over 25 years, with a focus on cannabinoids such as CBD. He is also President of the European Industrial Hemp Association (EIHA). His cooperation with international experts as well as with the advisory committee of the EIHA combines his well-founded know-how from practice and science in the hemp and food industry. Kruse advocates on behalf of hemp industry stakeholders before the European Union and the German government. With his work, he has made a significant contribution to advancing the legal and regulatory framework for the hemp industry.
Daniel Kruse, industry pioneer, entrepreneur and President of the European Industrial Hemp Association (EIHA), commented on the merger:
“After 25 years in the hemp in- dustry, it is a great pleasure and honor for me to have found the right partner for the coming decades with SynBiotic SE. Our decades of experience alongside the supply chain of our group of companies find an excellent complement in the enormous dynam- ics of SynBiotic SE. The appealing nature and charisma of Lars Müller and his team contribute, but it is above all their displaying the highest professionalism and efficiency that has won us over. This combination makes SynBiotic SE the next Unicorn candidate and an ideal partner for me. The European hemp and cannabis market is set to become one of the most exciting and successful industries in the coming years. The challenges yet to be mastered are well known, but the resulting opportunities are unlimited.”
Rafael Dulon has also been working in the hemp industry for some 25 years. In 2015, he was awarded the Global Hemp Innovation Award at the World Hemp Congress for the development of a hemp harvester. Dulon’s expertise can be seen in the cultivation, harvesting and further processing of industrial hemp in organic quality.
Rafael Dulon, Managing Director of Hanf Farm GmbH and expert member of the International Institute for Cannabinoids (ICANNA) commented on the merger:
“The synergies created for Hanf Farm through its inclusion in the SynBiotic SE Group will lead to significantly faster growth. Within SynBiotic SE’s strong network of people and companies, we will be much better able to implement our ambitious goals in expanding our capacities and competencies as an original agricultural producer and primary processor of hemp. I am very pleased that Lars Müller fully supports my ideas for the development of sustainable, organic agriculture. Together, we will use the great potential of hemp in agriculture and market our healthy, climate-friendly products even more vigorously, and as well develop many new products. I look forward to using my many years of experience to help support Lars Müller’s vision.”
Source: SynBiotic SE