Wednesday, January 18, 2023
Essence Investment AG, a leading Swiss holding supporting the growth of the European cannabis industry, today announced the acquisition on 30 December 2022 of a 100% stake in AMP Alternative Medical Products GmbH ("AMP"), a German-licensed importer and distributor of EU-GMP medical cannabis products.
In addition to valuing AMP's intrinsic investment potential, Essence anticipates that its Swiss-based portfolio companies, Marry Jane AG, and Swiss Extract AG, will benefit from AMP's distribution capacity in Germany's large and growing medical cannabis market.
Henricus J. Stander III, a Member of the Board of Directors of Essence, commented, "AMP's people are first-rate and have built trusted, strong relationships with key German distributors and pharmacies, as well as leading suppliers of medical cannabis from Canada, Netherlands and Denmark. The Swiss-grown product of Marry Jane and Swiss Extract represents the highest quality and will strengthen AMP's competitiveness, bringing greater choice to German patients."
Dr. Stefan Feuerstein, Managing Director of AMP, observed, "The indoor cultivation and manufacturing facilities Essence has financed in Switzerland are quality benchmarks for Europe. Marry Jane and Swiss Extract will provide superior medicine at a consistency and scale that is difficult to match." He added, "With Essence as our shareholder and partner in our expanding portfolio of offerings, we can source more efficiently at a greater scale and better serve German patients, bringing them fresh products featuring a range of rich terpene and cannabis profiles."