Multi-entrepreneur Frank Otto invests in SynBiotic SE: The Munich-based company acquires majority stake in CannaCare Health and appoints Daniel Kruse as CEO

Multi-entrepreneur Frank Otto invests in SynBiotic SE:
The Munich-based company acquires majority stake in CannaCare Health and appoints Daniel Kruse as CEO

• Multi-entrepreneur Frank Otto invests 3 million euros in SynBiotic SE
• SynBiotic acquires majority stake in CBD retail expert Canna Care Health GmbH with its CBD network marketing subsidiary WellNetIQ
• Hemp pioneer Daniel Kruse joins SynBiotic management as CEO. 

Munich, 21 August 2023

SynBiotic SE continues its successful buy & build investment strategy: The group acquires CannaCare Health GmbH with its strong CBD brand Canobo as well as the emerging CBD network marketing subsidiary WellnetIQ. As part of the acquisition, investor and CannaCare shareholder Frank Otto invests three million euros in SynBiotic SE through an extensive share package.

Frank Otto on his investment: "For me, SynBiotic SE is the future of the European cannabis industry. No other group takes such a holistic view of this exciting market. When Michael Oplesch, whom I know through our joint founding of VIVA, approached me a few years ago about hemp, cannabis and CBD, I was immediately excited. Being commercially successful in making the world a better and more sustainable place has been my stated entrepreneurial goal for decades.

With Daniel Kruse, SynBiotic SE strengthens its management with another experienced managing director. Daniel Kruse, a pioneer in the hemp industry for three decades, is the founder of Hempro International GmbH, Hemp Factory GmbH, MH medical hemp GmbH, Hanf Farm GmbH and HempConsult GmbH, five of the leading hemp companies in Europe, which are already part of the SynBiotic Group. Since 2013, Kruse has been a board member of the European Industrial Hemp Association (EIHA) and was elected president in 2019. Kruse is also Vice Chair of the Federation of International Hemp Organisations (FIHO).

Together with Lars Müller, the industry expert Daniel Kruse will continue to drive SynBiotic's growth. Furthermore, it is planned to propose Frank Otto as a new member of the Board of Directors at the next general meeting. The experienced multi-entrepreneur intends to bring additional expertise and his many years of experience to the Board and thus underline his commitment to the vision of SynBiotic SE.

Daniel Kruse on his new role: "I am grateful for the trust of the Board and look forward to working even more intensively for the SynBiotic Group. I am sure that we will continue the success story of SynBiotic and our portfolio companies. I am also very much looking forward to taking a further big step forward in the hemp and cannabis industry together with Frank Otto. We share the common goal of unlocking the ecological and economic potential of this plant.

Lars Müller, Managing Director of SynBiotic SE, comments: "With this acquisition we continue to strengthen our position in the market. In addition, it is an entrepreneurial milestone for me that we have been able to attract such a successful, experienced and versatile entrepreneur as Frank Otto as an anchor investor.

Equipped with the additional capital, a strengthened management team and an experienced anchor investor, the Group continues to build on its leading market position and is optimistic about future market developments.

About SynBiotic SE:

SynBiotic SE is a listed group of companies in the hemp and cannabis sector and pursues an EU-focused buy & build investment strategy. The group covers the entire supply chain from cultivation to production to retail - from field to shelf. The core businesses of the vertically integrated company are research & development, production and marketing of hemp, CBD and cannabis products. 

SynBiotic SE has a clear strategy to further expand along the value chains of its business areas - hemp and CBD, medical cannabis and recreational cannabis.

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