High Tide expands reach through $10-million acquisition of cannabis retailer

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The always-expanding cannabis company is grabbing a larger share of the eCommerce market

High Tide Inc., the corporation that is renowned for its manufacturing and distribution of consumer accessories, continues to make every effort to open the way for growth through expansion. In order to establish itself as a leader within the US eCommerce market for consumer accessories, it has now decided to enter into a definitive agreement to fully acquire the issued and outstanding shares of DHC Supply LLC, which operates as Daily High Club.

Raj Grover, president and CEO of High Tide, has made clear his delight at completing this $10 million acquisition. He sees it as a great opportunity to leverage all of the company’s brands while creating a closer connection between its followers and the Daily High Club. “Daily High Club stood out for us because it is an increasingly popular online retailer of consumer accessories, with a fast-growing subscription box model that can easily be adapted to include cannabis products in the event of U.S. federal legalization,” said Grover.

Harrison Baum, founder, and CEO of Daily High Club, who will now join the High Tide team at the closing as director of digital marketing to oversee all social media initiatives for High Tide globally, added, “Daily High Club’s social media dominance, coupled with High Tide’s vast manufacturing capabilities and mature e-commerce platforms, should generate significant synergies. I couldn’t be more excited to be part of the High Tide family.”

High Tide’s decade-plus of experience today has served it well when it comes to exploring new directions and further increasing its share of the growing consumer accessories market. Should everything go smoothly in these times of deal-making, the transaction is expected to be finalized by the end of this month.