Canadian cannabis company Aphria Inc. completed its previously announced acquisition of Germany-based pharmaceutical distributor CC Pharma GmbH.

Upon closing, former CC Pharma shareholders were paid with €18.9 million cash. They may also receive up to €23.5 million after closing if certain performance milestones are met.

The acquisition is part of Aphria's expansion efforts in Germany and to ultimately establish a pan-European platform incorporating demand, supply and distribution.