Weed Retail Giant High Tide Expands International Brand Portfolio With Another Cannabis Acquisition
Portfolio Pulse from Jelena Martinovic
High Tide Inc. (NASDAQ:HITI) is expanding its international brand portfolio by acquiring the Queen of Bud brand, including all IP and trademarks. The deal, valued at $1 million, includes a cash payment and common shares of High Tide. Queen of Bud's founder, Ashley Newman, will become a global brand ambassador. This acquisition adds to High Tide's extensive brand roster and is expected to deliver significant value to shareholders.
March 15, 2024 | 2:05 pm
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High Tide's acquisition of Queen of Bud is expected to enhance its brand portfolio and shareholder value, with the deal including a mix of cash and stock payments.
The acquisition of Queen of Bud by High Tide Inc. is a strategic move to expand its brand portfolio and market reach, particularly in Canada and potentially internationally. The deal structure, involving both cash and stock, indicates High Tide's commitment to integrating Queen of Bud into its operations without significant capital expenditure. This acquisition is likely to be viewed positively by investors, given the potential for increased market share and revenue growth, thus potentially leading to a short-term positive impact on HITI's stock price.
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