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
SCENTMATIC's AI "KAORIUM" Debuts at THAMEEN Fragrance Launch in London's Selfridges4.7.2025 12:13:00 EEST | Press release
SCENTMATIC Inc., a leader in scent digitalization, introduced its AI-powered scent-to-language system, KAORIUM, at the THAMEEN Fragrance new product launch event. This pivotal event took place from June 5 to 11, 2025, at Selfridges department store in London, UK. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250703662207/en/ State of exhibition Global Expansion: KAORIUM Establishes UK Presence Europe leads the global fragrance market, with the UK projected to reach US$2.82 billion by 2033. Recognizing this, SCENTMATIC is rapidly expanding its international footprint. In May 2024, SCENTMATIC established its overseas subsidiary, KAORIUM, in London, appointing industry expert Ben Yanoushek as CEO. Official UK operations commenced on February 1, 2025, with the launch of its dedicated website: www.kaorium.com. KAORIUM Trialed at "Florentine Diamond" Launch Event The "Florentine Diamond" launch event for luxury brand THAMEEN Frag
Global Tourism Surging Ahead of Economic Growth, With Visits to Hit 30 Billion by 20344.7.2025 02:00:00 EEST | Press release
The World Economic Forum has today published a new report forecasting that the travel and tourism industry is projected to serve 30 billion tourist trips by 2034. Travel and Tourism at a Turning Point: Principles for Transformative Growth, produced in collaboration with Kearney and the Ministry of Tourism Saudi Arabia, reveals a projected $16 trillion contribution to global GDP by the same year—representing more than 11% of the total world economy, according to World Travel & Tourism Council estimates. The report also found that the sector is expanding 1.5 times faster than the global economy, generating significant commercial opportunities as long as the mounting challenges of climate change, labour shortages and infrastructure gaps are addressed. Inbound and outbound trips increasing fast Asia is on track to become the world’s fastest-growing tourism economy, with the direct travel and tourism GDP contribution expected to exceed 7% across the region by 2034. Notably, India and China
The 2025-2026 World Branding Awards Animalis Edition Honouring Leading Pet and Animal Brands Globally3.7.2025 22:00:00 EEST | Press release
The 2025-2026 World Branding Awards Animalis Edition marked its fifth instalment, bringing together leading pet and animal brands from all around the world. These brands were celebrated for their outstanding achievements, earning recognition as National, Regional, and Global Winners. The awards ceremony, held at Vienna's prestigious Hofburg Palace, welcomed winners across diverse categories, including pet food, retail, wellness, pet exhibitions, and aquatic products. Mounia Berrada-Gouzi expertly hosted the evening, which culminated in a grand celebration of brand excellence. “The Animalis Edition of the World Branding Awards recognises brands that have achieved the highest distinction—genuine recognition in the hearts and minds of consumers. Tonight, we honour those whose names resonate globally, whose values inspire loyalty, and whose presence defines excellence in the pet and animal industry,” said Richard Rowles, Chairman of the World Branding Forum. Out of over 950 brands nominate
Venture Global Announces 20-Year Sales and Purchase Agreement with PETRONAS3.7.2025 15:59:00 EEST | Press release
Today, Venture Global, Inc. (NYSE: VG) announced the execution of a new 20-year Sales and Purchase Agreement (SPA) with PETRONAS LNG Ltd. (PLL), a subsidiary of the Malaysian state-owned oil and gas company, PETRONAS. Under the terms of the SPA, PETRONAS will purchase 1 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from Venture Global’s third facility, CP2 LNG, for 20 years. This builds upon Venture Global’s existing agreement with PETRONAS for 1 MTPA of LNG supply from Plaquemines LNG. PETRONAS, a world-class partner in the LNG industry, joins other CP2 LNG customers in Europe, Asia and the rest of the world in a strategically important project to global energy supply and security. To date, approximately 10.75 MTPA of the 14.4 MTPA nameplate capacity for CP2 Phase One has been sold. About Venture Global Venture Global is a long-term, low-cost provider of U.S. LNG sourced from resource rich North American natural gas basins. Venture Global’s business includes assets ac
Frost & Sullivan Recognizes Novotech as 2025 Global Biotech CRO Company of the Year3.7.2025 15:05:00 EEST | Press release
In recognition of its innovation, client-focused delivery, and global impact, Novotech has been awarded the 2025 Global Biotechnology Contract Research Organization (CRO) Company of the Year by Frost & Sullivan. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250703950144/en/ Novotech Wins Global CRO Award Novotech is a globally recognized full-service clinical CRO and scientific advisory firm, trusted by biotech and small- to mid-sized pharmaceutical companies to advance their drug development programs at every phase. With a global footprint spanning Asia-Pacific, North America, and Europe, Novotech supports over 5,000 clinical trial sites and a distributed team of experts delivering seamless, end-to-end solutions across geographies. “Novotech is redefining biotech-focused clinical research through AI-driven innovation, global expansion, and a client-embedded partnership model. With a clear vision to be the CRO of choice for
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