DJ SynBiotic SE and Enchilada Group: Joint venture to launch first cannabis store in Germany
DGAP-Media / 2022-04-20 / 20:07
SynBiotic SE and Enchilada Group: Joint venture to launch first cannabis store in Germany
-- German cannabis company group SynBiotic SE and franchise expert Enchilada Group to establish joint venture
-- Two new companies to lay foundation for cannabis store franchise
-- Goal: To open Germany's first cannabis store
Munich, April 20, 2022.
What will the sale of cannabis products for recreational use look like in Germany? A joint venture between SynBiotic SE and Enchilada Franchise GmbH ("Enchilada Group") wants to provide the answer. Two companies are to be founded. One is to manage the corresponding licenses and the other is to form the operating arm of the joint venture. With this launch, the two German companies intend to lay the foundation for the first cannabis store franchise in Germany.
SynBiotic SE, as Germany's leading listed cannabis company group, and the Enchilada Group - which unites several gastronomy concepts such as Enchilada and Aposto under one roof and is one of the top 30 largest gastronomy companies in Germany - see themselves as the perfect partners for the task of designing a German cannabis store franchise from scratch.
"We deliberately chose a German company from the gastronomy sector," explains Lars Müller, CEO of SynBiotic SE about the planned joint venture. "On the one hand, the Enchilada Group is an absolute franchise expert, and on the other hand, the sale of so-called 'recreational cannabis' will presumably be subject to similar rules as foodlaw. And just as employees in the foodservice are already being prepared for alcohol sales in points such as the protection of minors but also product recommendation, in the future it will be necessary to train employees in the cannabis store for the sale of cannabis in a similar fashion."
"We have been successful in the food service industry for around 30 years now and our multi-concept approach is unique in Germany. We know how franchising works, have experience in all property locations and sizes, and are fundamentally open to new ideas. The team of SynBiotic SE convinced us from the start and we are sure that recreational cannabis will meet high demand. The business model is scalable precisely when recreational cannabis stores can be multiplied quickly - we would like to contribute to this with our expertise and know-how," explains Stefan Hackl, CEO of ConduktoAG, the investment company behind the Enchilada Group.
Lars Müller wants to provide answers not only to the legal questions about the sale of recreational cannabis. Within the framework of the joint venture, the consumer experience is to be experienced even before legalization. "We will present a turnkey brand and concrete concepts for our first own store chain in a timely manner," Lars Müller reveals. "And all this before legalization." The joint venture is thus intended to be a contribution by the business community to finding answers to what legalization might look. "SynBiotic SE and the Enchilada Group are ready - and thus nothing stands in the way of Germany's first cannabis store," concludes Lars Müller.
About SynBiotic SE
SynBiotic SE is the largest listed group in Europe in the hemp and cannabis sector and pursues an EU-focused buy & build investment strategy. The group of companies covers the entire supplychain from cultivation to production to retail - from field to shelf. One of the company's core businesses is the research & development, production and marketing of cannabinoid- and terpene-based solutions to major societal problems such as pain, sleep and anxiety. In doing so, SynBiotic SE is active not only in the dietary supplement and cosmetics markets, but also in the medical and, in the future, recreational cannabis sector.
About Enchilada Group
The first Enchilada restaurant was opened in Munich in 1990. Due to its great success and the opening of further outlets, Enchilada Franchise GmbH was founded in Gräfelfing near Munich in March 1996. However, Enchilada did not remain the sole concept: in the field of leisure and food service, there are currently four other gastronomic concepts as well as local large-scale projects and ratskeller in several German cities. In March 2010, the Enchilada Group was awarded the coveted Hamburg foodservice prize. The company generated sales of more than 127 million euros in 2019 and, with morethan 70 restaurants, is one of the largest gastronomy companies in Germany. End of Media Release
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Issuer: SynBiotic SE Key word(s): Health
2022-04-20 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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Language: English
Company: SynBiotic SE
Barer Str. 7
80333 München
Germany
E-mail: office@synbiotic.com
Internet: https://www.synbiotic.com/
ISIN: DE000A3E5A59
WKN: A3E5A5
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich, Tradegate Exchange
EQS News ID: 1331413
End of News DGAP Media
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1331413 2022-04-20
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April 20, 2022 14:07 ET (18:07 GMT)
