NESS ZIONA, Israel, May 16, 2019 /PRNewswire/ -- Ori Yehudai: "I took a company worth $3 million and sold it to IFF at $7.1 billion in 2018. In my opinion, the success of our cannabis company will be to build an industrial pharmaceutical company with the strictest standards, we had two such plants, and I know what that means. Some of the companies operating in the market today do not necessarily know what it means to comply with standards and how to build a long-lasting successful venture."
Frutarom former CEO and shareholder, Ori Yehudai, is joining a new venture in the cannabis world. After selling the successful company last year for $7.1 billion, he is now investing as partner and assuming as an active chairman, leading the Sade Group to triumph. He is joined in the company of multi-billionaire, international businessman, Yakir Gabay, a German real estate tycoon whom is a major shareholder and partner in the Sade Group. Also joined by businessman, Ran Nussbaum, co-founder and managing partner of The Pontifax Group, a capital firm investing in pharmaceutical and life sciences companies. With joint efforts, the company is currently raising funds to expand into new acquisitions. Sources close to the company expect that it will soon raise more significant funds, which will enable it to implement plans to expand the business to markets throughout Europe and other markets.
Sade Group is a full-vertical company that covers from seed to cannabis-based pharmaceutical products. The company is geared to be one of the most advanced, quality-driven medicinal cannabis companies today. Their knowledge of the cannabis plant - from its genetics to the final product - enable them to bring superior products to market and advance patient care. The Sade Group expanded on its knowledge of growing for research purposes – and up-scaled it to global and commercial growing. Now planning to develop unique strains based on clinical research, and the transition to industrial production will ultimately allow the company to build highly recognized brands. The company plans to operate channels in the fields of medicine, food and cosmetics.
Ori Yehudai added: "After deep examination of this very young industry, I have finally found a company with a mature strategy and a skilled multidisciplinary team that will make Sade the de-facto leader in this space. In the next six months, we will complete the company's foundation, so that it can become one of the world's leading companies, we will need substantial funding and we will mobilize it."
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SOURCE Sade Group