Franchise Global Health Inc. (TSXV:FGH) (FRA:WV4A) has entered into a letter of intent dated effective May 6, 2022, outlining the general terms and conditions pursuant to which it has agreed to acquire a leading German pharmaceutical distributor. Management of Franchise Global expects that the acquisition, if completed, will strengthen the company's end-to-end pharmaceutical, medical cannabis operations and infrastructure in Germany, a key market for the company.
Clifford Starke, CEO, director and executive chairman of Franchise Global, stated: "This acquisition will strengthen our position in Germany. The target company has significant experience with regulatory requirements, pharmaceuticals and medicinal cannabis. We expect it to be a solid addition to Franchise Global's core position in Germany, providing deeper access to further pharmacies, wholesale distribution channels and advancing our business plan as Germany moves closer to full legalization of recreational cannabis."
