High Tide Acquires Crossroads Cannabis' Four Ontario Stores
March 3, 2022
High Tide Inc. agreed to acquire four operating Crossroads Cannabis retail stores in Ontario (Stratford, Woodstock, Hanover and Markdale) for CAD$2.5 million, paid in common shares. The stores generated CAD$7.6 million (annualized) and CAD$0.7 million annualized Adjusted EBITDA for the three months ended December 31, 2021; the purchase price represents ~3.5x annualized Adjusted EBITDA and expands High Tide's Ontario footprint.
- Buyers
- High Tide Inc.
- Targets
- Crossroads Cannabis
- Sellers
- Robert Rowe (Sole Proprietor of Crossroads)
- Industry
- Retail
- Location
- Ontario, Canada
- Transaction Type
- Buyout
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