Cann-Is Capital Corp., a Canadian company that helps cannabis companies raise capital, has bought all outstanding equity of CWE European Holdings, a privately held Canadian holding company that sells CBD in German-speaking countries in Europe.
Cann-Is Capital did not disclose a purchase amount.
CWE owns and operates six stores in Germany through DCI GmbH, a wholly owned German subsidiary, and one store in Luxembourg through CBD Wellness Europe. The stores operate under the brand name Hanf and sell hemp-derived products including CBD.
According to Cann-Is, CWE had 2018 net revenue of about $860,000 (CA$1.1 million), with a $152,000 net income (CA$203,000). Cann-Is Capital trades on the TSX Venture Exchange as NIS.P.
To read more about the acquisition, click here.
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