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High Tide Inc. to acquire Queen of Bud, expanding its international brand portfolio

PUBLIC · HITIMar 15, 2024

Acquiring Company

High Tide

Acquired Company

Queen of Bud

CalgaryCanadaRetailManufacturingCannabis

Description

High Tide Inc. has entered into a definitive agreement to acquire all IP, including trademarks and other assets of the Queen of Bud brand. The acquisition will strengthen High Tide's overall ecosystem and provide meaningful value to its shareholders while expanding its in-house brand portfolio.

Quick answer

High Tide is acquiring Queen of Bud, announced March 15, 2024. High Tide is based in Calgary, Alberta, Canada.

How much did High Tide pay for Queen of Bud?
The deal value was not disclosed.
What does High Tide do?
High Tide is a retail-focused cannabis company enhanced by the manufacturing and distribution of consumption accessories.
Where are High Tide and Queen of Bud based?
High Tide is based in Calgary, Alberta, Canada. Queen of Bud is based in Canada.
Who are the decision-makers at High Tide?
Fundz holds 2 contacts at High Tide. Names and contact details are shown to Fundz members.

Source: Fundz verified event record.

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Company Information

Company

High Tide

Location

Unit 112, 11127 - 15TH STREET N.E.

Calgary, Alberta, Canada

About

High Tide is a retail-focused cannabis company enhanced by the manufacturing and distribution of consumption accessories. The Company is the most profitable Canadian retailer of recreational cannabis as measured by Adjusted EBITDA,2 with 89 current locations spanning Ontario, Alberta, Manitoba and Saskatchewan. High Tide’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, Smokecartel.com and Dailyhighclub.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. High Tide’s strategy as a parent company is to extend and strengthen its integrated value chain, while providing a complete customer experience and maximizing shareholder value. Key industry investors in High Tide include Tilray Inc. (TSX: TLRY) (Nasdaq: TLRY) and Aurora Cannabis Inc. (TSX: ACB) (Nasdaq: ACB). Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

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Frequently asked

Who acquired Queen of Bud?

Queen of Bud was acquired by High Tide, based in Calgary. The deal was reported on March 15, 2024. High Tide is a retail-focused cannabis company enhanced by the manufacturing and distribution of consumption accessories. High Tide is publicly traded (HITI) and operates in Retail.

When did High Tide acquire Queen of Bud?

High Tide's acquisition of Queen of Bud was reported on March 15, 2024. High Tide Inc. has entered into a definitive agreement to acquire all IP, including trademarks and other assets of the Queen of Bud brand. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.

What does Queen of Bud do?

Queen of Bud is a well-known and selectively curated cannabis brand with a strong customer base, especially among women, in Canada. Its innovative product portfolio includes ancillary products that are popular in the United States and Europe. It is privately held, operating in Manufacturing, and is based in Canada.

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