On February 8, Hemply Balance Holding AB informed the market that the company had acquired the Polish CBD company Hemp Juice. This is the first acquisition in the company’s acquisition strategy to expand in Europe and consolidate its position as one of the leading CBD companies in Europe. The acquisition gives Hemply Balance and Hemp Juice good opportunities to expand in the Polish market and develop Hemp Juice D2C and B2B sales in the European market.
Cooach is Hemply Balance’s business support and has worked intensively with the company’s management to bring the deal to fruition. The team from Cooch consisting of Urban Hobring, Carl-Fredrik Morander, Tobias Fridman and Moa Holmgren has assisted in the financial and legal work. 99% of the acquisition has been handled via digital meetings.
After an initial Meet & Greet with the then owners, contract negotiations have been handled remotely. The agreement was signed digitally but needed, due to Polish legislation, to be finalized on site in Poland, where Cooach could assist through one of its Polish partners with formalities and adjustments to the articles of association etc. to comply with the Polish Companies Act.
Jonas Lenne is the CEO of Hempy Balance Holding AB since October 2021. The CBD market is characterised by many smaller, local players and his aim is to create a strong position for Hemply Balance as Europe’s leading CBD company through acquisitions in Europe.
As the newly appointed CEO of a listed company, it is a huge relief to be able to feel secure with the financial figures and know that I have very knowledgeable and experienced people available to bounce my questions and thoughts about our expansion strategy, from initial dialogue to purchase transaction.Jonas Lenne CEO Hemply Balance Holding AB
“With Cooach, we get the opportunity of Legal, HR and CFO On Demand. This means that I and the organization can focus more on running the business, our growth and building Hemply Balance Holding’s acquisition strategy. We can do this because I know where I can turn with any questions I may have and also know that I will get answers immediately.
It was also interesting to see that it was possible to carry out a company acquisition remotely. I’m really a “people person ” but the digital meeting could still provide the human interaction. The only downside was that it took a little longer to complete the deal than if we had locked ourselves in for negotiations and agreement. Even if it went fast, probably 30% of the time could have been cut. But the simplicity of sharing documents and discussing letters was very smooth.
Now that we are making acquisitions and building up an international group, the availability of legal expertise for several European markets and the knowledge that the agreements are strong and that we are able to get a senior business support that can challenge everything from the companies’ forecasts and figures with weight behind the issue a great security for me as CEO. ”
We thank Jonas and his team for the trust to assist with SPA, Due Diligence and negotiation support in this first acquisition. We now look forward to integrating the acquisition and implementing the IT platform, HR processes and other relevant elements of our business support platform for the new Polish subsidiary.Carl-Fredrik Morander, CEO Cooach Group
About Hemply Balance
Hemply Balance is a manufacturer of health food and hemp products. The company also offers intimate care products, as well as sales of oil and capsules outside of Sweden. The company’s hemp products contain, among other things, CBD, which is one of many cannabinoids that, together with other substances, are found in the hemp plant. The company is primarily active on the European market. Hemply Balance was founded in 2016 and is headquartered in Stockholm.