Multinational tobacco company British American Tobacco (BAT) has announced the acquisition of a non-controlling minority stake in Sanity Group.
Founded in 2018, Sanity Group aims to improve quality life using cannabinoids. The investment will help the German company to expand and strengthen research and development activities.
“Our goal is to leverage the full potential of the cannabis plant and to explore and harness the different cannabinoids – with the new capital, we will be able to accelerate our medical and consumer business units whilst preparing accordingly for cannabis legalization in Germany,” said Finn Age Hänsel, Founder and Chief Executive Officer of Sanity Group.
The investment will enable BAT to explore other areas beyond nicotine, positioning BAT for future portfolio growth across a range of categories and geographies.
Source: BAT / Sanity Group