High Tide expands retail footprint with Ontario acquisition
- High Tide entered an agreement to buy 100 percent of J. Supply Holdings, the corporate operator of the Northern Helm cannabis retail brand.
- The total transaction value reaches $7.74 million, which incorporates a mixture of equity shares, cash, and low-interest assumed debt.
- The addition elevates High Tide's total operational network to 228 Canna Cabana dispensaries across Canada.
High Tide (NASDAQ:HITI) executed a definitive agreement to acquire 100 percent of J. Supply Holdings to add four active Northern Helm retail cannabis stores located across Ontario.
The transaction adds immediate retail locations in Bowmanville, Kingston, Courtice, and Oshawa to bring High Tide's provincial store count to 103 operating sites in Ontario.
The financial breakdown consists of approximately $3.2 million in assumed debt at a 2 percent interest rate, about $1.83 million in cash, and roughly $2.75 million in common shares.
Following the announcement, High Tide's share price was down at $2.64.
The company stated that the final purchase price represents a valuation multiple of 4.5 times annualized Adjusted EBITDA calculated for the three months ended March 31, 2026.
The corporate group expects to close the transaction in the coming weeks, subject to standard regulatory approvals from the TSX Venture Exchange and the Alcohol and Gaming Commission of Ontario.
