Flora Growth Corp. is beginning 2023 with a major acquisition. As 2022 ended, Flora completed the acquisition of Franchise Global Health. Franchise Global Health is a Canadian cannabis company with primary operations in Germany, and is the owner of the first German medical cannabis import and distribution license.
This acquisition potentially boosts Flora’s access to Germany’s cannabis market and over 1,200 pharmacies. Some estimate suggests that the German medical cannabis market will surpass $900 million by 2025. Even Franchise Global Health could possibly benefit from the deal, in its ability to meet growing demand. Franchise Global Health’s suppliers were only able to deliver around 4 kilos every 8 weeks when the company had a demand of over 100 kilos every month.