LCG Capital has announced the acquisition of a 30 percent stake in Swiss cannabis supplier Virdi.
Legal cannabis investment company LCG will take part ownership of Virdi, which supplies cannabis seeds and flowers for use in cosmetics, cigarettes and natural wellness Swiss authorized products to the European and Swiss markets.
The investment will put LGC Capital ahead in the growing trend for legal cannabis and will enable further development in the European market.
John McMullen, CEO of LGC stated, “We see Europe as one of the most exciting markets for legal cannabis in the world, and to have this new business partnership and investment in VIRIDI reflects yet another valuable cannabis producing company joining LGC’s legal global cannabis investment portfolio.
“We believe that a team such as VIRIDI, will excel in the European Cannabis market, where projections for the overall market are currently estimated to be around €38 Billion (57.88 Billion CAD)* per year growing to over €50 Billion (76.16 Billion CAD)* in annual sales over time.”
LCG Capital has made further investments in companies including Little Green Pharma, Evolution Bink and Global Canna Labs.