British American Tobacco (BAT) has acquired a non-controlling minority stake in the Sanity Group, a German firm that makes consumer products from cannabis.
The tobacco giant stated that investment was complementary to other recent investments, most notably a strategic R&D collaboration established with Canada’s Organigram Holdings in March last year.
BAT noted that the stake in the Sanity Group adds a European dimension to its drive to develop the business beyond nicotine.
Sanity Group, which is based in Berlin, has a well-established product portfolio of CBD consumer brands and medical cannabis brands. It also has a track record in the research, development and marketing of cannabis products.
Kingsley Wheaton, Chief Growth Officer at BAT, said: “Investing in Sanity Group is another example of BAT’s ongoing work to explore numerous areas beyond nicotine, positioning BAT for future portfolio growth across a range of categories and geographies.
“We continue to transform our business, through better understanding of our current and future consumers, as part of our A Better Tomorrow purpose.”
