High Tide and Sanity Group join forces for legalization in Germany

High Tide Inc., a Canadian company specializing in the distribution of smoking accessories and cannabis-related products, has signed a letter of intent (LOI) with the Sanity Group, a Berlin-based health and life sciences company focused on in the medical cannabis industry. LOI intends to take advantage of the potential legalization of recreational cannabis in Germany and leverage the complementary nature of both companies.

Germany is expected to make progress in legalizing recreational cannabis this spring and High Tide believes Sanity Group is the best potential partner in its home market, given its well-established track record in the medical cannabis industry, pharmaceuticals, and cannabinoid-based consumer goods.

High Tide Founder and CEO Raj Grover stated in a press release that the company is well positioned to bring its success to the German market if the government legalizes recreational cannabis. He added that High Tide is proud to partner with one of the key players in the German medical cannabis space, such as the Sanity Group, particularly as their business models are complementary in nature.

Finn Hänsel, CEO of the Sanity Group

The two companies plan to work together on various aspects of their business, including go-to-market strategies, identifying M&A (mergers and acquisitions) opportunities, real estate sourcing, expansion into European markets and regulatory compliance. High Tide intends to support the Sanity Group in building a consumer retail brand strategy, using its decade-long experience serving cannabis consumers in Canada, the United States, and Europe. In addition, High Tide will provide timely targeted assistance with product display and advertising opportunities across all of its assets in Germany and other European markets. Sanity Group CEO Finn Hänsel expressed enthusiasm and pride in laying the groundwork for a strong and trusting partnership with High Tide on the legalization of recreational cannabis in Germany. He added that High Tide has extensive experience and expertise in building commercial cannabis brand strategies and that the partnership will bring mutual value.