RESPECTED UK cannabis law firm Memery Crystal has been bought by City firm RBG Holdings for £30m.
Memery Crystal handled the legal aspects of the flotation of the first cannabis company – MGC Pharmaceuticals – on to the London Stock Exchange, in February this year.
Its Managing Director Nick Davis is well-known in the industry with the firm currently acting for a number of cannabis companies looking at London floats and fundraising.
Mr Davis will remain with the firm which will retain its own brand identity and separate offices. RBG Holdings plc was previously known as Rosenblatt and is listed on the Alternative Investment Market.
Nicola Foulston, chief executive of RBG Holdings, said: “Memery Crystal is an excellent addition to the group both culturally and operationally. Both businesses are entrepreneurial in nature.”
Memery Crystal has 29 partners and the deal involves RBG paying £12m in cash, £11.2m in shares and £6.8m in deferred shares, reports The Times.
As well as cannabis Memery Crystal has a strong presence across the capital markets, private wealth, finance, real estate, technology retail, leisure and natural resources.
