Haynes Boone is delighted to have acted for GROW Group PLC, a biopharmaceutical company focused on cannabis-based medicines, on its share acquisition of UK medical cannabis operator and specials manufacturer Avida Medical Ltd.
The deal team was led by Partner Nick Davis and Counsel Natalie Georgiou, with assistance from Partner Michael Mulligan and Counsel Geraldine Palfreman-Pigot.
GROW Group PLC is a leading distributor of prescribed cannabis medicines across Europe, exclusively distributing medical cannabis products for top tier manufacturers. The acquisition completes GROW Group’s UK distribution and manufacturing capabilities, allowing it to offer a full service to global cannabis companies wishing to access the UK market.
The company is led by co-Founder and CEO Ben Langley, a former JPMorgan banker regarded as the UK’s first professional cannabis investor, and co-Founder and CSO Ian Atkinson, a geneticist and botanist with extensive experience in the science industry. They have a wealth of strong leaders with pharmaceutical and commercial expertise working alongside them.
“This acquisition is transformational for GROW Group at a time when the UK cannabis market is expanding rapidly and ever more patients are benefiting from cannabis medicines,” said Langley, Chief Executive Officer of GROW Group. “Haynes Boone was with us the whole way, from early diligence on the opportunity to close of the transaction. The deal was far from simple, with numerous constantly moving parts, but Haynes Boone kept us in control and ensured we were able to line everything up and close on terms that are clearly accretive for GROW Group shareholders. We are grateful for a job extremely well done.”
Haynes Boone’s global Mergers & Acquisitions Practice Group has comprehensive deal experience, having helped clients close more than 500 transactions in the last five years, with an aggregate value exceeding $50 billion. The firm routinely represents private equity firms, closely held corporations, founders, large financial institutions and Fortune 500 public companies. The firm’s London M&A attorneys have comprehensive experience handling large, middle market and smaller transactions, including high-profile deals for AIM-traded clients across various markets in the United Kingdom and globally.
