Several Cannabis stores in Midwestern Ontario have been acquired by the largest Canadian retailer of recreational cannabis.
In a release, High Ride Incorporated says it has purchased cannabis stores in Stratford, Hanover, Markdale (and Woodstock) for a total of $2.5-million dollars Canadian.
The stores were previously operating under the "Crossroads" brand, which generated a revenue of just over $7.5-million dollars last year.
High Tide President and CEO Raj Grover says his brand has become the quote-"acquirerer of choice" in the Canadian retail cannabis space, allowing them to bring an innovative discount club model to communities which they have not been able to serve directly.
The sale is expected to close by the end of this year.
