British medical cannabis and wellness company EMMAC Life Sciences announced Tuesday that it has acquired 100% of the Portuguese genetics and cultivation company Terra Verde.
The deal makes EMMAC the largest vertically integrated cannabis company in Europe, according to the company, with operations across eight territories and in the continent's leading medical cannabis markets in Europe: Italy, the U.K. and Germany.
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Upon finalizing the acquisition, EMMAC said it will invest in Terra Verde’s existing facilities, as well as in the construction of a GMP-certified facility for storage, processing and production.
"We are delighted to have acquired Terra Verde, a unique asset in the European medical cannabis space that was founded by one of the most well-regarded plant-based researchers," EMMAC CEO Antonio Costanzo said in a statement.
"With the acquisition of Terra Verde, EMMAC is now the largest vertically integrated European cannabis company and a leader in the industry. We are delighted to welcome David [Yarkoni, the founder of Terra Verde] and his team in Portugal to EMMAC."
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