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High Tide ( (TSE:HITI) ) just unveiled an announcement.
High Tide Inc. is expanding into the German medical cannabis market by acquiring a 51% stake in Purecan GmbH, a profitable pharmaceutical wholesaler with an import license and logistics infrastructure in Germany, for approximately €4.8 million. This strategic acquisition allows High Tide to leverage its Canadian procurement expertise and establish itself as a leading supplier in a rapidly growing market, positioning the company for further expansion into other European markets. The acquisition is expected to bolster High Tide’s market presence and strengthen its international business lines, while Purecan benefits from High Tide’s established procurement networks, addressing the rising demand for medical cannabis in Germany.
More about High Tide
High Tide Inc. is a high-impact, retail-forward enterprise focused on delivering value across the cannabis industry. It has a robust presence in the Canadian cannabis market, having achieved over $1.5 billion in cumulative sales through its brick-and-mortar retail model. The company is known for its procurement expertise and strong relationships with licensed producers.
YTD Price Performance: -6.93%
Average Trading Volume: 818,288
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $247.2M
See more data about HITI stock on TipRanks’ Stock Analysis page.
