M&A Deal Summary

High Tide Acquires Daily High Club

On June 25, 2021, High Tide acquired e-commerce company Daily High Club for 10M USD

Acquisition Highlights
  • This is High Tide’s 1st transaction in the E-Commerce sector.
  • This is High Tide’s 2nd largest (disclosed) transaction.
  • This is High Tide’s 1st transaction in the United States.
  • This is High Tide’s 1st transaction in California.

M&A Deal Summary
Date 2021-06-25
Target Daily High Club
Sector E-Commerce
Buyer(s) High Tide
Deal Type Add-on Acquisition
Deal Value 10M USD

Target

Daily High Club

Signal Hill, California, United States
Daily High Club is an online retailer of glass water pipes, vaporizers, and other in-demand consumption accessories. The company provides a marketplace with a wide variety of high-quality products and subscription boxes. It has an active social media presence with numerous influencer and celebrity endorsements including deals with Tommy Chong, Chanel West Coast, and more. Daily High Club was formed in 2009 and is based in Signal Hill, California.

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Buyer(S) 1

Buyer

High Tide

Calgary, Alberta, Canada
Category Company
Founded 2009
Sector Consumer Products
Employees1,550
Revenue 488M CAD (2023)
DESCRIPTION

High Tide is a retail-focused cannabis company enhanced by the manufacturing and distribution of consumption accessories. The Company’s retail segment features the Canna Cabana, KushBar, Meta Cannabis Co., Meta Cannabis Supply Co., and NewLeaf Cannabis banners, with additional locations under development across the country. High Tide has been serving consumers for over a decade through its established e-commerce platforms including Grasscity.com and Smokecartel.com, and more recently in the hemp-derived CBD space through CBDcity.com and FABCBD.com as well as its wholesale distribution division under Valiant Distribution, including the licensed entertainment product manufacturer Famous Brandz. Its strategy as a parent company is to extend and strengthen its integrated value chain, while providing a complete customer experience and maximizing shareholder value. High Tide was incorporated in 2009 and is based in Calgary, Alberta.

DEAL STATS #
Overall 2 of 11
Sector (E-Commerce) 1 of 2
Type (Add-on Acquisition) 1 of 10
State (California) 1 of 1
Country (United States) 1 of 3
Year (2021) 1 of 5
Size (of disclosed) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-18 META

Etobicoke, Ontario, Canada

META is a manufacturer and marketer of medical marijuana products in Canada and internationally. META was founded in 2014 and is based in Brampton, Canada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-20 DankStop

Wooster, Ohio, United States

DankStop is an online consumption accessories retailer. DankStop is based in Wooster, Ohio.

Buy $4M
Mergr

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