The purchase extends High Tide’s reach and makes it a stronger target for investors
Cannabis company focused on brick-and-mortar retail and global e-Commerce assets, High Tide, has recently announced that its acquisition of an 80% stake in NuLeaf Naturals has finally been completed. The transaction was reportedly valued at $31.2 million and will have a three-year option for High Tide to consider owning the remaining 30% of NuLeaf at any time.
Denver-based NuLeaf is more than six years old, which has given it enough experience to focus on the distribution and production of premium cannabinoid products used for the well-being of many people. So far, it seems that its acceptance has been great, as it has received over 5,000 verified 5-star customer reviews through its eCommerce platform.
NuLeaf has streamlined too many of its processes, and today, it is capable of producing 60,000 plant-based softgels per hour and is considered one of the few companies in the US that can make a vegan softgel. NuLeaf has proven in recent years to have an unparalleled distribution reach in the natural products channel and not long ago was able to formalize an expansion with Sprouts Farmers Market from 33 retail locations to 235 additional stores.
When talking about the global eCommerce space, this is High Tide’s sixth acquisition and third with respect to the cannabidiol (CBD) space so far this year. It’s no secret to anyone that moves as these have greatly boosted the company’s international revenues. Expanding and making acquisitions are becoming quite important moves if a company really wants to be at the forefront of an industry like cannabis.