The Green Organic Dutchman Holdings Ltd is set to acquire HemPoland, which has local distributors in several European countries
The Green Organic Dutchman Holdings Ltd. announced recently that it has signed an agreement to acquire 100% of privately-held HemPoland in an accretive cash and share transaction. The acquisition comes at a cost of US$7.75 million in cash and 1,968,323 restricted Green Organic Dutchman shares currently worth US$7.75 million with an additional US$10.3 million cash investment for European expansion. There are also additional performance-based incentives of up to US$12 million for delivery of US$32 million of EBITDA in fiscal 2021. HemPoland is the first private company in Poland to obtain a state license allowing it to grow and manufacture Cannabis Sativa. It produces and markets cannabis and organic CBD oils. HemPoland was founded in 2014 and is headquartered in Elblag, Poland.
Green Organic Dutchman would get access to HemPoland’s vast distribution network, premium Cannabigold brand, state-of-the-art hemp oil extraction technologies, and a pathway into the European market for TGOD’s medical & recreational products and licensing deals. HemPoland is a vertically-integrated enterprise, with over 1,250 acres of cultivation leveraging third parties, multiple commercial scale extraction units, local distributors in Poland, Austria, Netherlands, Germany, United Kingdom, Italy, Switzerland, Portugal, Ireland, Czech Republic, Slovenia, Lithuania, and Estonia, and product sales in over 700 locations. In 2017, the company produced over 32,000 kg of organic dried flower and 310 kg of organic CBD oils.