Connect with us
Advertising
Advertising

corporations

Snoop Dog and British American Tobacco invest in Sanity Group

Published

em

Florian Blaschke, Laura Simonow, Finn Haensel, Max Narr and Konstantin Rutz of the Sanity Group. Photo: Maximilian Koenig

The Sanity Group announced this week one of the biggest financings in a cannabis company in Europe, with 37.6 million dollars raised in a round led by the group British American Tobacco, which acquired a minority position in the Sanity Group. Investors such as Redalpine and the investment fund of Snoop Dog, Casa Verde Capital. The market for adult cannabis use is already in the sights of Finn Age Hänsel, founder and CEO of Health Group, which includes other celebrities in its investor list.

The Berlin Sanity Group, a start-up Germany, secured additional funding of €37,6 million from new and existing investors as part of a second round of funding. With the new capital, the existing business must be expanded and preparations will be made for the early legalization of cannabis in Germany. The Sanity Group also includes investments from celebrities such as music producer Will.I.Am or actress Alyssa Milano.

A new investor, BT DE Investments Inc., a wholly owned subsidiary of British American Tobacco, entered this funding round, as well as existing investors such as Redalpine and Snoop Dog's investment fund, Casa Verde Capital. “This funding round is an important milestone for us and a strong signal for the development of the cannabis market in Germany and Europe. I am grateful for the trust of new and existing investors. Our aim is to exploit the full potential of the cannabis plant and explore the different cannabinoids. With the new capital, we can further advance our business areas and also prepare for the legalization of cannabis for recreational purposes in Germany,” said Finn Age Hänsel, founder and CEO of Sanity Group.

British American Tobacco acquires minority stake in Sanity Group

After anúncio from Sanity Group GmbH (Sanity Group), British American Tobacco, also came release make investors aware of the investment made through a subsidiary. The group discloses that the subsidiary has effectively acquired a non-controlling minority interest in the company.

The American tobacco company, which already has a stake in Organization Chart, stated that this investment is complementary to other recent investments made by companies in the group. “Sanitation Group membership adds a European dimension to one of the many BAT farms beyond nicotine,” the statement reads.

Kingsley Wheaton, director of growth at BAT, said in the statement that “investing in Sanity Group is another example of BAT’s ongoing work to explore multiple areas beyond nicotine, positioning BAT for future portfolio growth across multiple categories and geographies.”

Advertising
Advertising cannadouro

See the Documentary "Patients"

Documentary Patients Laura Ramos help us grow

Mais recentes

National1 hours ago

Portugal: Mothers for Cannabis Movement launches petition for the right to personal and associative cultivation

The Mothers for Cannabis Movement, founded in Portugal in May 2022 by hundreds of patients seeking access to cannabis...

press releases6 days ago

GNR: 10 months of investigation to seize 32 doses of hashish and 48 of cocaine

The Territorial Command of Porto, through the Criminal Investigation Nucleus (NIC) of Felgueiras, on November 28th, detained...

Interviews1 weeks ago

André Paquete Carvalho: “Amsterdam is very open, but we still live in times of tolerance. Cannabis here is still illegal.”

The interviews “Working with Cannabis”, published in Cannadouro Magazine, seek to introduce Portuguese people who work in the cannabis sector...

Hemp3 weeks ago

Cannabis or hemp? Is Spain making the same mistakes as Portugal?

The Guardia Civil recently announced the largest cannabis seizure ever in Spain, but soon after, several voices came...

National3 weeks ago

Cannadouro account disappears from Instagram 1 day before the event

CannaDouro's Instagram account will have been deleted or blocked by the social network provider. Access to the page was...

Hemp3 weeks ago

Pedrêz recipes: How to make cast hemp concrete in situ

In 2018, the Pedrêz workshop began, at Rua do Paraíso 331, in the historic center of Porto, the construction of the first...

Events3 weeks ago

Cannadouro returns to Alfândega do Porto next weekend

Shortly after Porto was chosen by the World Travel Awards as the best city destination in the world...

International3 weeks ago

Ireland: People Before Profit wants to change legislation to allow adult use of cannabis

The Irish political party People Before Profit will present in two weeks a bill that intends to change the...

International3 weeks ago

USA: President of the National Institute of Military Justice demands extension of the pardon for cannabis offenses to veterans

The president of the National Institute of Military Justice of the United States of America (USA) asked President Joe Biden to...

Interviews3 weeks ago

César Cardoso: “Building with hemp is a true green alternative”

Stimulating innovation in modern architecture, using natural or recycled materials, with low environmental impact, is one of the priorities...