Biortica Agrimed, Australia’s largest B2B grower of medicinal cannabis has today confirmed it has reached agreement to purchase CannaPacific, the owner of a 10,000 m2 cannabis horticulture facility in Northern NSW, for an undisclosed amount in cash and scrip.
Biortica’s rapid growth continues apace.
“Our first glasshouse is fully sold through to end-2024. We’re building a second glasshouse at our regional Victoria base just as fast as we can, but we still need more growing space, “ said Tom Varga, CEO, as he announced the acquisition of CannaPacific for an undisclosed sum.
“The NSW facility will provide Biortica geographic security of production, ameliorating single site risk, but also a short runway to being able to commission another world class glasshouse facility” he said.
The Canna Pacific facility includes a 10,000 m2 modern glasshouse and 3 hectares of high security outdoor cultivation with the potential to deliver an additional 15,000 kg/pa of premium medicinal cannabis flower.
“15 tons of medicinal cannabis each year,” said Varga. “now that’s a significant commitment by Biortica to building a global horticultural medicinal cannabis industry right here in Australia.”
CannaPacific’s CEO and Founder Joshua Dennis said “The fit with Biortica Agrimed is an incredibly good one. Both companies share a similar culture and values focusing on healthcare enabled and enhanced with modern horticultural technology. I have always wanted our company to continue to grow and to be in a much stronger position. Together with Biortica it now can.” he said.