By Emily Ledger
This week, EMMAC Life Sciences has successfully acquired 100% of the Portuguese genetics and cultivation company, Terra Verde. The move makes EMMAC the largest vertically integrated Cannabis company in Europe.
The move was announced on Tuesday 16th July by EMMAC’s press team. Following the acquisition, the Cannabis company now has operations in eight territories and distribution channels across Europe’s largest medical Cannabis markets (UK, Germany and Italy).
The company, Terra Verde, was the second Cannabis cultivation company in Europe (and the first in Portugal) to be granted a cultivation license. The license was granted in 2014, allowing eight hectares of Cannabis cultivation. High-grade medical Cannabis is grown in accordance with EU Agricultural and Collection Practises, across the indoor and outdoor facilities at the Portuguese site.
The founder of Terra Verde, David Yarkoni, commented:
“I am delighted to partner with EMMAC to maximise Terra Verde’s potential to be the best cultivation facility in Europe. EMMAC has built the perfect platform to become the European leader. We look forward to working together.”
Besides being a world-renowned geneticist and breeder, Yarkoni has been a pioneer for plant-based research and production for decades.
Terra Verde is the largest acquisition made by EMMAC, to date. The full integration of EMMAC’s supply chain has been completed, as a result of the deal. This includes the GACP cultivation, extraction and manufacturing, as well as the licensed distribution channels for medical Cannabis.
Antonio Costanzo, CEO of EMMAC, said:
“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’s focus now is to extend the pan-European reach of our medical and wellness portfolio. We will continue to partner with the best organisations and businesses in the sector and support cutting-edge scientific research to further develop the medical cannabis sector.”
Following the completion of the deal, EMMAC are looking to invest heavily in the facilities at Terra Verde’s facilities. Plans for improvement include the building of a GMP-certified storage, processing and manufacturing facility. The improvements at the Portuguese sight are planned to serve both the domestic and international markets.