M&A Deal Summary

High Tide Acquires Bud Heaven

On March 30, 2022, High Tide acquired retailer Bud Heaven for 3M CAD

Acquisition Highlights
  • This is High Tide’s 3rd transaction in the Retail sector.
  • This is High Tide’s 5th largest (disclosed) transaction.
  • This is High Tide’s 5th transaction in Canada.
  • This is High Tide’s 4th transaction in Ontario.

M&A Deal Summary
Date 2022-03-30
Target Bud Heaven
Sector Retail
Buyer(s) High Tide
Deal Type Add-on Acquisition
Deal Value 3M CAD

Target

Bud Heaven

Bracebridge, Ontario, Canada
Bud Heaven is a legal cannabis retailer that operates in the Muskoka Region and has been privileged to serve the local cannabis community. The company's culture is based on a passion for cannabis, supporting its customers' well-being, integrity, inclusiveness, and diversity. They pride themselves on their knowledgeable team and their technological savvy, which allow them to optimize their operations and customers' experiences. Bud Heaven is based in Bracebridge, Ontario.

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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 9 of 11
Sector (Retail) 3 of 3
Type (Add-on Acquisition) 8 of 10
State (Ontario) 4 of 4
Country (Canada) 5 of 7
Year (2022) 3 of 4
Size (of disclosed) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-03 Crossroads Cannabis

Stratford, Ontario, Canada

Crossroads Cannabis is a family-owned and operated company that offers a clean and welcoming environment to help make customers new to cannabis feel comfortable. Crossroads offers an industry-leading range of products at affordable and competitive prices. Crossroads Cannabis is based in Stratford, Ontario.

Buy CA$3M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-01 Boreal Cannabis

Slave Lake, Alberta, Canada

Boreal Cannabis is built on a foundation of love, passion, and a strong belief in how cannabis can help in the lives of everyday Canadians. With equal commitments to quality and fairness in price, Boreal's mission is to ensure that cannabis culture is accessible and welcoming for all. Whether it is providing insight and education or friendly service, Boreal strongly believes in treating everyone as people, not just customers. Boreal Cannabis was formed in 2019 and is based in Slave Lake, Alberta.

Buy CA$2M
Mergr

Product

Company

Legal