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（納斯達克：HITI）將以60萬加元（438,417美元）的價格收購一個位於安大略省密西沙加市的零售大麻店，目前經營名稱爲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.
加拿大大麻零售商於星期三證實，已於2024年6月25日簽訂了一個明確的資產購買協議，將收購Cantopia，該商店位於密西沙加市繁華的零售廣場內，周圍有許多小企業。它毗鄰一家國際知名的快餐店，距離一個國家性折扣零售商和一個加拿大折扣食品連鎖店僅幾步之遙。
"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在尋找併購機會時一直關注質量而非數量，這次收購是我們有針對性戰略的又一個例子，”High Tide的創始人兼首席執行官Raj Grover表示。“自2022年日曆年結束以來，我們一直專注於綠地增長，在完全沒有進行任何併購的情況下，有機地增加了24個門店。由於市場一直是買家市場，我們一直在耐心地尋找最高質量的機會，而不會追求任何交易或妥協於不切實際的賣方預期，與我們一些同行不同。”
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日的三個月中， Cantopia實現了230萬加元的年收入和40萬美元的年調整後利潤，收購價相當於截至2024年5月31日的三個月的年調整後利潤的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總結道：“隨着加拿大零售大麻市場的進一步整合，許多經營者正在評估當前的宏觀形勢和他們所擁有的有限選項。加入 High Tide 家族使這些零售商能夠度過難關，同時爲我們提供營業額強勁的完全運營門店，其價格合理。我很高興爲我們出色的零售資產組合增加了另一家高度競爭的店鋪，並期待未來更多戰略性和增值的併購機會。”
Price Action
股價變動
High Tide shares were trading flat at $2.2 per share during Wednesday's pre-market session.
在星期三的盤前交易中，High Tide的股票交易價格保持穩定，每股2.2美元。
High Tide Reports $34.5M Cash Position, Sells 1,400 Shares In Q2, Expands Cannabis Footprint
高潮報告現金頭寸爲3450萬美元，在第二季度售出1400股，擴大大麻股份。
Photo: Courtesy of SD_FlowerPower via Shutterstock
照片：由SD_FlowerPower通過Shutterstock提供