Releaf Group Signs Agreement to Acquire Medicinal Cannabis Manufacturer Cannoz

Mar 1, 2021 | News

APAC Cannabis franchise pioneer Releaf Group Ltd is pleased to announce that their wholly-owned subsidiary, Releaf Manufacturing Pty Ltd, has signed an agreement to acquire a 51% interest in Perfect Capital Investments Pty Ltd (trading as Cannoz), a licensed cannabis manufacturer, with a further option to acquire the 49% balance.

The acquisition strengthens the company’s vertically integrated model and distribution supply chain to process extracts and tinctures of cannabis and cannabis resin and supply their own local and international dispensary chains, as well as support their export division with a range of high-quality Australian products.

“This is an exciting acquisition and positions the company to become a globally recognised large scale manufacturer of medicinal cannabis product lines, that may also provide Releaf with a distinct pricing advantage in APAC supplying internally to Releaf Dispensaries. This pricing advantage could see the company disrupt the end-user cost of prescriptions, making medicines more affordable than existing market prices”, said Gary Mackenzie, CEO of Releaf Group.

As a combined group of companies, Releaf is positioning itself to become the leading vertically integrated cannabis provider with end distribution in the APAC region.

“It is an exciting opportunity for Cannoz to become part of a larger cannabis group and assist in the processing and delivery of quality Australian products within the Releaf Group supply chain”, said Rupin Aggarwal, Director of Cannoz.

Both companies have a sustainable approach to delivering affordable medicinal cannabis product lines, in addition to a shared vision to drive value for patients and shareholders.

Releaf Group Ltd is planning to IPO late 2021.