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MissionIRNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Enters into Acquisition Agreement with German-Based Pharmaceutical, Medical Cannabis Distributor

Flora Growth (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, has inked a definitive agreement with Franchise Global Health Inc. (TSX.V: FGH), a multinational operator in the medical cannabis and pharmaceutical industry. The agreement outlines Flora Growth’s plans to acquire 100% of Franchise Global Health, which has principal operations in Germany, in an all-stock transaction. According to the agreement, the acquisition gives FLGC a foothold in German’s medical cannabis space because FGH’s German businesses service an estimated 1,200 pharmacies in the country; FGH also provides noncannabis medical products to 28 additional countries. In the first six months of this year, FGH reported revenue of approximately C$30.1 million; total aggregated reported revenues for both companies for the period ended June 30, 2022, reached $38.6 million. The agreement calls for Flora Growth’s indirect acquisition of FGH’s subsidiaries, including Phatebo GmbH, a leading distributor of export pharmaceuticals and medical cannabis products to the European Union, and ACA Müller ADAG Pharma Vertriebs GmbH, which holds the first German medical cannabis import and distribution license ever granted. “Through this proposed acquisition, we are connecting our commercial infrastructure and medical cannabis product portfolio to the German and EU medical markets, while gaining direct access to European pharmaceutical distributions,” said Flora Growth chair and CEO Luis Merchan in the press release. “We believe Franchise will significantly increase our commercial international revenue and provide essential distribution to German pharmacies and a growing wholesale market.”

To view the full press release, visit

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands that delivers the most compelling customer experiences in the world, one community at a time. As the operator of one of the largest outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its commercial, house of brands, and life sciences divisions. For more information about the company, please visit

NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at

About MissionIRNewsBreaks

MissionIRNewsBreaks provide a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by our Team of professional journalists that keep a constant eye on the markets, these posts are designed to inform you on the latest happenings of our clients and other publicly traded companies on our radar. From earnings, acquisitions and agreements to conference attendance and clinical study results, our news breaks keep you up-to-date with the day’s top movers. MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.

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