Essence Investment Acquires AMP Alternative Medical Products GmbH
Zug, Switzerland, 17 January 2023 – Essence Investment AG ("Essence" or the "Company"), a leading Swiss holding supporting the growth of the European cannabis industry, today announced the acquisition on 30 December 2022 of a 100% stake in AMP Alternative Medical Products GmbH (“AMP”), a German-licensed importer and distributor of EU-GMP medical cannabis products.
In addition to valuing AMP’s intrinsic investment potential, Essence anticipates that its Swiss-based portfolio companies, Marry Jane AG, and Swiss Extract AG, will benefit from AMP’s distribution capacity in Germany’s large and growing medical cannabis market.
Henricus J. Stander III, a Member of the Board of Directors of Essence, commented, "AMP’s people are first-rate and have built trusted, strong relationships with key German distributors and pharmacies, as well as leading suppliers of medical cannabis from Canada, Netherlands and Denmark. The Swiss-grown product of Marry Jane and Swiss Extract represents the highest quality and will strengthen AMP’s competitiveness, bringing greater choice to German patients.”
Dr. Stefan Feuerstein, Managing Director of AMP, observed, “The indoor cultivation and manufacturing facilities Essence has financed in Switzerland are quality benchmarks for Europe. Marry Jane and Swiss Extract will provide superior medicine at a consistency and scale that is difficult to match.” He added, “With Essence as our shareholder and partner in our expanding portfolio of offerings, we can source more efficiently at a greater scale and better serve German patients, bringing them fresh products featuring a range of rich terpene and cannabis profiles.”
About Essence Investment AG
Essence Investment AG is a Swiss holding dedicated to providing the highest-quality cannabis products to European patients and consumers. Its principal Swiss assets are: Marry Jane AG, Breitenbach – the largest indoor producer of premium CBD flowers in Europe (circa 15 tonnes in 2022); and Swiss Extract AG – a greenhouse cultivator and BioSuisse-certified producer of premium cannabis extracts for its own brand and white-label supplier to a number of European CBD companies.
About AMP Alternative Medical Products GmbH
AMP Alternative Medical Products GmbH is licensed to import European Union – Good Manufacturing Practice (EU-GMP) medical cannabis and sell to pharmaceutical distributors or pharmacists directly, the only point-of-sale for medical cannabis to German patients.
Importing high-quality medical cannabis from the Netherlands, Canada and Denmark, AMP at present is supplying roughly 150 pharmacies throughout the country, including Germany`s leading cannabis-dispensing pharmacies.
INVESTOR AND MEDIA CONTACT
Essence AG
Henricus J. Stander III, Member of the Board
AMP Alternative Medical Products GmbH
Dr. Stefan Feuerstein, Managing Director
FORWARD-LOOKING STATEMENTS
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SOURCE: Essence Investment AG and Greenrise Global Brands Inc.
