High Tide Closes Acquisition of NuLeaf Naturals
High Tide Inc. - Common Shares (HITI)
Company Research
Source: Business Wire
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 CAD$10.6 million at October 31, 2020 to approximately CAD$80 million annual run-rate as of today.NuLeaf has a strong financial profile which generated 71% gross margins and 25% Adjusted EBITDA1 margins in 2020.Highly accretive transaction for shareholders, as NuLeaf generated revenue of US$19.4 Million and US$5.26 Million in Adjusted EBITDA1 for the 12 months ended September 30, 2021.High Tide’s internationally-diversified portfolio generates meaningful Adjusted EBITDA1, which provides the Company with an advantage when competing for bricks-and-mortar market share in Canada.Co-founders Bo Shirley and Jaden Barnes retain 20% ownership of NuLeaf, and have taken on consulting roles with High Tide to assist the Company’s continued expansion in the United States and globally.High Tide intends to use NuL
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HITI
Analyst Actions
- 3/18/24 - TheStreet
HITI
Sec Filings
- 4/23/24 - Form 6-K
- 4/15/24 - Form 6-K
- 4/12/24 - Form 6-K
- HITI's page on the SEC website