High Tide has just acquired the most lucrative Canna Cabana retail cannabis store in Ontario.
The acquisition of Canna Cabana’s Hamilton location marks High Tide’s first step towards procuring all three Canna Cabana locations across the province. Canna Cabana’s two other Ontario stores are located in Toronto and Sudbury.
“High Tide is excited to add the Hamilton store to its corporately-owned portfolio of stores, with its large and loyal customer base and top-tier financial performance,” said High Tide president and CEO, Raj Grover. “Over the coming year, we look forward to growing our presence in the Ontario market and reaching the maximum of 10 stores per operator as quickly as possible.”
Until August 31, 2020, retail operators may own a maximum of 10 cannabis stores in Ontario. That number will increase to 30 in September 2020 and 75 in September 2021.
High Tide is a retail-focused, Alberta-based cannabis company that manufactures, wholesales, and distributes smoking accessories and cannabis lifestyle products.
High Tide has a growing portfolio in the Canadian cannabis market
- Canna Cabana – Canna Cabana is a sizeable retail business with 27 stores and a sophisticated yet playful customer experience.
- KushBar – With two stores in Alberta, KushBar offers a modern shopping experience for consumers.
- Grasscity.com – Based in Amsterdam, Grasscity.com is the world’s preeminent online retailer of smoking accessories and cannabis lifestyle products.
- Smoker’s Corner – Founded in 2009, Smoker’s Corner is among Canada’s largest counter-culture chains with 11 locations.
- RGR Canada – RGR Canada is a high-quality and innovative designer, manufacturer and distributor of cannabis accessories.
- Famous Brandz – Through partnerships with celebrities and entertainment companies including Snoop Dogg and Paramount Pictures, Famous Brandz is a dominant manufacturer of cannabis lifestyle accessories.
The Hamilton Canna Cabana is one of a limited number of premier cannabis retail stores operating in Ontario. Since opening its doors on April 20, 2019, the company’s gross sales exceeded $14 million.