High Tide Expands Retail Footprint with Chestermere Acquisition

The newly acquired storefront at 100 Rainbow Road is situated along a primary arterial route, capturing traffic from both local residents and commuters traveling to and from Calgary. High Tide plans to rebrand the site under its Canna Cabana banner, leveraging the location’s proximity to a national grocery chain and other high-traffic service businesses to drive consistent consumer volume.

Raj Grover, founder and CEO of High Tide, noted that the company secured the asset at a valuation of 2.1 times its annualized Adjusted EBITDA of approximately $316,000. This acquisition aligns with the company’s broader objective of maintaining disciplined growth while focusing on high-visibility real estate. With this addition, High Tide’s national store count reaches 234, reinforcing its position as a major operator in the Canadian retail cannabis sector.