M&A Deal Summary

High Tide Acquires NuLeaf Natural

On November 22, 2021, High Tide acquired consumer products company NuLeaf Natural for 31M USD

Acquisition Highlights
  • This is High Tide’s 3rd transaction in the Consumer Products sector.
  • This is High Tide’s largest (disclosed) transaction.
  • This is High Tide’s 3rd transaction in the United States.
  • This is High Tide’s 1st transaction in Colorado.

M&A Deal Summary
Date 2021-11-22
Target NuLeaf Natural
Sector Consumer Products
Buyer(s) High Tide
Deal Type Add-on Acquisition
Deal Value 31M USD
Advisor(s) Class VI Partners (Financial)
Squire Patton Boggs (Legal)

Target

NuLeaf Natural

Denver, Colorado, United States
NuLeaf Natural engages in the production and distribution of premium cannabidiol (CBD) wellness products. NuLeaf can produce 60,000 plant-based softgels per hour and is one of only a few manufacturers in the United States that can produce a vegan softgel. NuLeaf Natural was founded in 2014 with its headquarters in Denver, Colorado.

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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 6 of 11
Sector (Consumer Products) 3 of 6
Type (Add-on Acquisition) 5 of 10
State (Colorado) 1 of 1
Country (United States) 3 of 3
Year (2021) 5 of 5
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-07 Blessed CBD

London, United Kingdom

Blessed CBD is an online retailer of hemp-derived CBD products in the U.K. The company provides a marketplace with a wide variety of high-quality products and formulas, affordable pricing, rapid dependable shipping, and surprisingly personable customer service. Blessed CBD is based in London.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-05 Bud Room

Ottawa, Ontario, Canada

Bud Room is a retail cannabis store. Bud Room is based in Ottawa, Ontario.

Buy $4M
Mergr

Product

Company

Legal