Business
High Tide Closes Acquisition of NuLeaf Naturals
High Tide Closes Acquisition of NuLeaf Naturals Canada NewsWire T...
About this update from High Tide, Inc.
[{"type":"text","content":"\n \n \n \n High Tide Closes Acquisition of NuLeaf Naturals\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen1{\nBORDER-TOP:0pt; BORDER-RIGHT:0pt; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt; BORDER-LEFT:0pt\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n This closing represents High Tide's largest acquisition to-date, 6th global e-commerce related acquisition in 2021, and 3rd in the CBD space, taking international revenue from approximately\n \n CAD$10.6 million\n \n at\n \n October 31, 2020\n \n to approximately\n \n CAD$80 million\n \n \n \n \n \n annual run-rate as of today.\n \n \n \n \n \n \n NuLeaf has a strong financial profile which generated 71% gross margins and 25% Adjusted EBITDA\n \n \n \n 1\n \n \n \n margins in 2020.\n \n \n \n \n \n \n Highly accretive transaction for shareholders, as NuLeaf generated revenue of\n \n US$19.4 Million\n \n and\n \n US$5.26 Million\n \n in Adjusted EBITDA\n \n 1\n \n for the 12 months ended\n \n September 30, 2021\n \n .\n \n \n \n \n \n \n High Tide's internationally-diversified portfolio generates meaningful Adjusted EBITDA\n \n 1\n \n , which provides the Company with an advantage when competing for bricks-and-mortar market share in\n \n Canada\n \n .\n \n \n \n \n \n \n Co-founders\n \n Bo Shirley\n \n and\n \n Jaden Barnes\n \n retain 20% ownership of NuLeaf, and have taken on consulting roles with High Tide to assist the Company's continued expansion in\n \n the United States\n \n and globally.\n \n \n \n \n \n \n High Tide intends to use NuLeaf's cGMP-certified facility to produce licensed THC-infused edible and drinkable products, as U.S. federal regulations permit.\n \n \n \n \n \n \n CALGARY, AB\n \n ,\n \n Nov. 29, 2021\n \n /CNW/ - High Tide Inc. (\"\n \n High Tide\n \n \" or the \"\n \n Company\n \n \") (TSXV: HITI) (NASDAQ: HITI) (FSE: 2LYA), a leading retail-focused cannabis company with bricks and mortar as well as gl...