The retail-focused cannabis company High Tide Inc. (TSXV: HITI) (OTCQB: HITIF) (FRA: 2LY) said Monday that it will acquire 80% of Fab Nutrition, LLC. (operating as FABCBD) for $20.64 million in stock and cash.
FABCBD, an online retailer of hemp-derived CBD products headquartered in Milwaukee, Wisconsin, launched in 2017.
High Tide said it is considered the most profitable Canadian retailer of adult-use cannabis on an adjusted EBITDA basis. Key investors in High Tide include giant Canadian cannabis companies such as Aphria Inc. (TSX: APHA) (NYSE: APHA) and Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB).
The High Tide-FABCBD Deal
High Tide signed an agreement to obtain 80% interest in FABCBD for $20.64 million consisting of $8.08 million in shares of High Tide and $12.56 …