CORRECTING and REPLACING: Pharmasimple Announces Its Decision to Acquire an Equity Stake in Phytocann Group
Headline of release dated August 16, 2022, should read: Pharmasimple Announces Its Decision to Acquire an Equity Stake in Phytocann Group (instead of Phytocann Group announces its acquisition of a stake in Pharmasimple). Also, first sentence of second paragraph should read: Pharmasimple is delighted to acquire a 5% equity stake in Phytocann Group for the sum of 5 million euros (instead of Phytocann Group is delighted to acquire a 5% stake in Pharmasimple for the sum of 5 million euros).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220809005631/en/
The updated release reads:
PHARMASIMPLE ANNOUNCES ITS DECISION TO ACQUIRE AN EQUITY STAKE IN PHYTOCANN GROUP
Phytocann Group, a vertically integrated company and European CBD pioneer, is proud to announce a partnership with Pharmasimple, a company listed on Euronext Growth Paris and industry leader in Belgium. This strategic rapprochement opens up a new era for the distribution of cannabic products in pharmacies.
Pharmasimple is delighted to acquire a 5% equity stake in Phytocann Group for the sum of 5 million euros. Beyond the additional skills and expertise, this increase in capital lays the foundations for a medium-term IPO.
The research and development component is also particularly important. New ranges and the launch of new products are already being explored by the two entities. As a long-standing online pharmacy leader, Pharmasimple has been undergoing a business transformation for several months by diversifying its network of physical pharmacies. Having set itself the goal of 200 by 2025, 14 are already open and 15 are scheduled to open in 2022.
This strategic partnership will lead to the introduction of a range of unique products dedicated to Pharmasimple, including CBD oils and cosmetics. It should be noted that the brands belonging to Phytocann Group (Harvest Laboratoires, Ivory, Easy Weed, Herboristerie Alexandra etc.) will be distributed both in shops and on the Pharmasimple website.
As online sales of CBD are of crucial importance to Phytocann Group, this partnership will enable us to create shared synergies and thus to step up and expand our online presence. Always striving to create and offer outstanding products, research and tests are being carried out on new product innovations based on CBD and other non-psychotropic cannabinoids.
This capital acquisition takes advantage of the best possible timing regarding the expansion of Phytocann Group and the opening up of the medicinal cannabis market in Europe, a sign of real added value for Pharmasimple.
Distribution in pharmacies and drugstores was a major challenge. This also strengthens the positioning and the DNA of a 100% vertically integrated group, from production to sales.
If you would like any further information or an interview with a leader of Phytocann Group, don’t hesitate to contact the press office: sbotton@stepconseil.com
The original source-language text of this announcement is the official, authoritative version. Translations are provided as an accommodation only, and should be cross-referenced with the source-language text, which is the only version of the text intended to have legal effect.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220809005631/en/
Contact information
PRESS
Samuel BOTTON: +33 (0)6 84 79 99 61 – sbotton@stepconseil.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
United First Partners Serves as Introducing Broker on Mayflower IPO, a UK Listed Acquisition Vehicle and Among the Largest Primary New Issues in London in 2025, Highlighting UFP’s Increasing Presence Across ECM10.12.2025 19:42:00 EET | Press release
United First Partners (“UFP”) is pleased to announce its role as Introducing Broker on Mayflower Acquisition Limited (“Mayflower”), which completed its IPO today, raising USD 500 million. The size of the capital raised places Mayflower among the largest London acquisition vehicles of recent years. The offering represents an important development for UFP’s expanding capital markets platform and reflects the firm’s increasing activity within Equity Capital Markets (ECM). About Mayflower Acquisition Limited Mayflower is a UK Listed Acquisition Vehicle, sponsored by TOMS Capital and JRJ Group, incorporated to unlock exits across a closely-held company universe, including long-held private equity assets and large family-owned businesses. Mayflower’s structure provides guaranteed capital to asset owners, offering a flexible liquidity solution and higher potential for transaction success, and highly aligned economics to investors, with a significant Sponsor commitment of USD 75m. Mayflower wa
Abu Dhabi Launches FIDA Cluster to Shape the Next Generation of Financial and Investment Solutions10.12.2025 19:21:00 EET | Press release
Abu Dhabi has launched the FinTech, Insurance, Digital and Alternative Assets (FIDA) cluster to accelerate the development of next-generation financial and investment solutions and expand the emirate’s role as a global capital hub. Spearheaded by the Abu Dhabi Department of Economic Development (ADDED) and the Abu Dhabi Investment Office (ADIO), the cluster is a core pillar of Abu Dhabi’s long-term economic diversification agenda. By 2045, FIDA is projected to contribute an additional USD 15.2 billion to Abu Dhabi’s direct GDP, generate 8,000 skilled jobs and attract at least USD 4.6 billion in investment, cementing the emirate’s position as a destination for innovative and resilient financial systems. FIDA brings together high-growth areas where technology, regulation and capital intersect, including fintech, digital assets, insurance, reinsurance and alternative investments. It aims to position Abu Dhabi as a preferred jurisdiction for global firms seeking to design, test and scale n
Xsolla Celebrates a Week of Industry Programming at The Game Awards With a New Brand Launch, Day of the Devs Participation, and GamesBeat Hollywood & Games 2025 Partnership10.12.2025 19:00:00 EET | Press release
Xsolla, a leading global video game commerce company that helps developers launch, grow, and monetize their games, today announced a unified lineup of programming during The Game Awards week in Los Angeles. Together, these initiatives showcase Xsolla’s commitment to bringing the community and ecosystem together to support creators, strengthen the relationship between games and their players, and enable games to reach more markets around the world. The week of activities includes its partnership with GamesBeat Hollywood & Games 2025, a featured role during Day of the Devs: The Game Awards Digital Showcase, Games for Love’s The Game Gala, and the unveiling of Xsolla’s refreshed brand identity. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251210688609/en/ Berkley Egenes – Chief Marketing & Growth Officer at Xsolla The brand refresh is the centerpiece of Xsolla’s presence throughout the week, reflecting Xsolla’s future-forward
Hanseo University Expands Aviation Training Program with New Frasca Flight Training Device10.12.2025 17:05:00 EET | Press release
Frasca International, Inc., a FlightSafety International company and leader in flight simulation, today announced that Hanseo University in South Korea is expanding its aviation program with a new Level 5 Cessna 172 Flight Training Device (FTD), the seventh Frasca device to join the university’s fleet. Hanseo University’s school of Aeronautical Science recognized by the Korean University Accreditation Institute as the nation’s first Specialized University for Training Professional Workforce Industries, continues to expand its state-of-the-art simulation capabilities with the acquisition of a Level 5 Cessna 172 FTD. The addition builds on a partnership with Frasca that has spanned more than two decades and further advances aviation education across Asia. “We were seeking simulators that provided both realism and reliability, and Frasca stood out immediately,” said Dr. HanSuk Jung, Vice President Aeronautics, Hanseo University. “Over the years, our partnership has become a deep and lasti
Bregal Milestone Announces Majority Growth Investment in Beyond Now10.12.2025 17:00:00 EET | Press release
Bregal Milestone, a leading European software growth private equity firm, today announced a majority growth investment in Beyond Now (the “Company”), a fast-growing, cloud-native supply chain software provider for AI-enabled digital commerce. Driven by strong customer demand, Beyond Now has generated profitable growth and >40% last twelve-month ARR growth. Beyond Now supports some of the world’s largest and most innovative Communication Service Providers (CSPs), including Verizon, AT&T, Deutsche Telekom, and NTT, in managing complex digital supply chains to create seamless end-to-end partner and customer operations. Founded in 2018, the Company serves telecommunication providers, technology companies, and private enterprises to efficiently scale and monetize digital services through its suite of modern, Ecosystem Orchestration and Digital Platforms - including an AI Digital Business Platform for orchestrating partner offerings, an AI Digital Marketplace solution for personalized custom
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom