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股份有限公司（納斯達克：HITI）將以60萬加元（438,417美元）收購位於安大略省米西索加市的一家零售大麻店，目前以Cantopia的名字運營。
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.
加拿大大麻零售商已經確認，它已經於2024年6月25日簽訂了明確的資產購買協議，以收購Cantopia。這家店位於米西索加市一個繁華的零售廣場，周圍有幾家小企業。它毗鄰一個享譽國際的快餐廳，並且離一個國家折扣零售商和加拿大折扣雜貨連鎖店的距離就幾步之遙。
"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的創始人兼首席執行官拉吉·格羅弗表示：“在審視了M&A機會時，High Tide一直關注質量而非數量，該收購是我們有針對性策略的又一例。自2022年日曆年結束以來，我們一直專注於綠色增長，在沒有M&A的情況下有機地增加了24個地點。由於目前市場是買家市場，我們一直很耐心地追求最優質的機會，而不是追逐任何交易或屈服於不切實際的賣家期望，與我們的一些同行不同。
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.
截至2024年5月31日的三個月內，Cantopia的年化營收達到了230萬加元，經調整後的年化稅前利潤爲40萬美元。購買價格相當於截至2024年5月31日的三個月內經調整後的年化稅前利潤的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.
拉吉·格羅弗總結道：“隨着加拿大零售大麻市場經歷巨大的整合，許多運營商正在評估當前的宏觀條件和他們所面臨的有限選擇。加入High Tide家庭讓這些零售商能夠經受住經濟波動的考驗，同時爲我們提供了強大收入的完全運營站點，價格也是合理的。我很高興能夠將另一家高度收益的店鋪添加到我們卓越的零售組合中，並期待更多的戰略性和收益性的M&A機會浮現。”
Price Action
股價變動
High Tide shares were trading flat at $2.2 per share during Wednesday's pre-market session.
High Tide股票在週三的盤前交易中以每股2.2美元的價格平盤。
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
譯文內容由第三人軟體翻譯。