On Jan. 4, 2018, Canadian marijuana producer Aurora Cannabis (TSX: ACB) announced its decision to team up with Denmark-based Alfred Pedersen & Son in an effort to cultivate and eventually sell marijuana throughout Europe. Aurora Cannabis will have a 51% in the joint venture, known as Aurora Nordic Cannabis A/S.
“This is a huge next step for Aurora, establishing us as the leading cannabis company in Europe, a market of well over 400 million people, dramatically accelerating our international expansion,” said Terry Booth, CEO of Aurora Cannabis, in a press release.
According to Reuters, the Danish company is best known for producing tomatoes and peppers. The two crops are normally cultivated in green houses and are generally viewed as top notch choices in regard to converting from fruit and vegetable cultivation to marijuana cultivation because all three crops share some of the same growth requirements, making the transition easier.
While Aurora Cannabis is still embroiled in a hostile takeover of it’s Canadian-based rival CanniMed, the company has also raised its stake in Australia’s Cann Group Ltd by 3%. The decision to partner with Alfred Pedersen & Son is another bold move the company is making in order to expand its holdings in the legal marijuana industry.
Aurora Nordic Cannabis A/S plans to open a marijuana production facility that is capable of producing more than 120,000 kg each year.
The Denmark Medicines Agency awarded Alfred Pedersen & Son its cultivation license on Jan. 1, with Aurora Nordic Cannabis A/S planning to market and sell marijuana to European countries like Denmark, Norway, Iceland and Sweden via Aurora Cannabis’ German division.