High Tide To Buy 'Highly Accretive' Cannabis Store For $438K
High Tide To Buy 'Highly Accretive' Cannabis Store For $438K
High Tide Inc. (NASDAQ:HITI) will acquire a retail cannabis store in Mississauga, Ontario, currently operating as Cantopia for CA$600,000 ($438,417).
High Tide公司（纳斯达克：HITI）将以60万加元（438,417美元）的价格收购一个位于安大略省密西沙加市的零售大麻店，目前经营名称为Cantopia。
Canadian cannabis retailer confirmed Wednesday it has entered into a definitive asset purchase agreement dated June 25, 2024 under which it will acquire Cantopia. The store is located in Mississauga at a bustling retail plaza surrounded by several small businesses. It is adjacent to an internationally recognized quick-serve restaurant and is steps away from a national discount retailer and a Canadian discount grocery chain.
加拿大大麻零售商于星期三证实，已于2024年6月25日签订了一个明确的资产购买协议，将收购Cantopia，该商店位于密西沙加市繁华的零售广场内，周围有许多小企业。它毗邻一家国际知名的快餐店，距离一个国家性折扣零售商和一个加拿大折扣食品连锁店仅几步之遥。
"High Tide has always been focused on quality over quantity when looking at M&A opportunities, and this acquisition is another example of our targeted strategy," stated Raj Grover, founder and chief executive officer of High Tide. "Since the end of calendar 2022, we have been focusing on greenfield growth, adding 24 locations organically with effectively no M&A. As it has been and continues to be a buyers' market, we have been patient pursuing only the highest quality opportunities while not chasing any deals or giving into unrealistic seller's expectations, unlike some of our peers."
“High Tide在寻找并购机会时一直关注质量而非数量，这次收购是我们有针对性战略的又一个例子，”High Tide的创始人兼首席执行官Raj Grover表示。“自2022年日历年结束以来，我们一直专注于绿地增长，在完全没有进行任何并购的情况下，有机地增加了24个门店。由于市场一直是买家市场，我们一直在耐心地寻找最高质量的机会，而不会追求任何交易或妥协于不切实际的卖方预期，与我们一些同行不同。”
For the three months ended May 31, 2024, Cantopia generated annualized revenue of CA$2.3 million and annualized Adjusted EBITDA of $400,000. The purchase price represents 1.5x annualized adjusted EBITDA for the three months ended May 31, 2024.
在截至2024年5月31日的三个月中， Cantopia实现了230万加元的年收入和40万美元的年调整后利润，收购价相当于截至2024年5月31日的三个月的年调整后利润的1.5倍。
"As the Canadian retail cannabis market is going through heightened consolidation, many operators are assessing the current macro conditions and the limited options available to them. Joining the High Tide family allows these retailers to weather the storm while providing us with fully operational sites with strong revenues for reasonable multiples. I am pleased to add another highly accretive store to our outstanding retail portfolio and look forward to more strategic and accretive M&A as the opportunities arise," Grover concluded.
Grover总结道：“随着加拿大零售大麻市场的进一步整合，许多经营者正在评估当前的宏观形势和他们所拥有的有限选项。加入 High Tide 家族使这些零售商能够度过难关，同时为我们提供营业额强劲的完全运营门店，其价格合理。我很高兴为我们出色的零售资产组合增加了另一家高度竞争的店铺，并期待未来更多战略性和增值的并购机会。”
Price Action
股价变动
High Tide shares were trading flat at $2.2 per share during Wednesday's pre-market session.
High Tide股票在周三的盘前交易中以每股2.2美元的价格平盘。
High Tide Reports $34.5M Cash Position, Sells 1,400 Shares In Q2, Expands Cannabis Footprint
高潮报告现金头寸为3450万美元，在第二季度售出1400股，扩大大麻股份。
Photo: Courtesy of SD_FlowerPower via Shutterstock
照片：由SD_FlowerPower通过Shutterstock提供