High Tide Acquires Cannabis Retail Store in Alberta
High Tide (HITI) has acquired a cannabis retail location in Chestermere, Alberta for $670,000 cash. The acquisition expands High Tide's Canadian footprint to 234 locations with 93 of those now situated in the province of Alberta. The transaction was completed on October 8 and values the store at 2.1 times its earnings multiple. This move reflects ongoing consolidation within Canada’s cannabis retail sector as companies seek geographic expansion and operational scale through strategic acquisitions.
Tickers: $HITI
Topics: acquisition cannabis retail expansion