Founded in 2017, Grow Group is working with Alvarez & Marsal on an accelerated sale process following a recent slide in sales, Sky News understands.
A medicinal cannabis producer which distributes products in the UK and two other countries has appointed City advisers to find new owners.
Sky News has learnt that Grow Group, which saw a significant slump in sales last year, is working with Alvarez & Marsal (A&M) on a sale process.
The company, which was established in 2017 to take advantage of the legalisation of medicinal cannabis products in the UK, describes itself as the UK's largest supplier of quality prescribed cannabis medicines.
In addition to the UK, its products are sold in Australia and Germany.
Preliminary information circulated to potential buyers is understood to indicate that the auction is being conducted on an accelerated basis, and that A&M is open to offers either for the company's shares or for its business and assets.
Grow Group is said to have been profitable at an EBITDA level in 2024 but made a loss on that basis of £1.9m in its most recent financial year.
The company's operations are principally based in the UK, including a research and development facility near London.
It is run by Ben Langley, a former JPMorgan banker who helped found the business nearly a decade ago.
Research by Prohibition Partners suggests that Britain is the second-largest market in Europe for cannabis-based medicines, with 140,000 active patient users of the products expected this year.
A&M declined to comment, while Grow Group could not be reached for comment.
Source: Medicinal cannabis producer Grow Group tries to weed out buyer
10/10 for the headline!
A medicinal cannabis producer which distributes products in the UK and two other countries has appointed City advisers to find new owners.
Sky News has learnt that Grow Group, which saw a significant slump in sales last year, is working with Alvarez & Marsal (A&M) on a sale process.
The company, which was established in 2017 to take advantage of the legalisation of medicinal cannabis products in the UK, describes itself as the UK's largest supplier of quality prescribed cannabis medicines.
In addition to the UK, its products are sold in Australia and Germany.
Preliminary information circulated to potential buyers is understood to indicate that the auction is being conducted on an accelerated basis, and that A&M is open to offers either for the company's shares or for its business and assets.
Grow Group is said to have been profitable at an EBITDA level in 2024 but made a loss on that basis of £1.9m in its most recent financial year.
The company's operations are principally based in the UK, including a research and development facility near London.
It is run by Ben Langley, a former JPMorgan banker who helped found the business nearly a decade ago.
Research by Prohibition Partners suggests that Britain is the second-largest market in Europe for cannabis-based medicines, with 140,000 active patient users of the products expected this year.
A&M declined to comment, while Grow Group could not be reached for comment.
Source: Medicinal cannabis producer Grow Group tries to weed out buyer
10/10 for the headline!
