SNDL, a Canadian cannabis operator, has purchased 32 cannabis stores for CA$32.2 million, which is approximately $23 million in U.S. currency. This acquisition includes 27 stores located in Ontario, three in Saskatchewan, and two in Alberta, as announced in a recent news release.<\/p>\n\n\n\n
The deal is contingent upon several conditions, including court and regulatory approvals. Additionally, shareholders of 1CM, the company selling the stores, must approve the acquisition at a special meeting scheduled for June. If all necessary approvals are granted, the transaction is anticipated to close by the end of the third quarter.<\/p>\n\n\n\n
This acquisition follows SNDL’s recent investment in High Tide, where it secured a roughly 5.4% stake in Canada\u2019s largest cannabis retail chain. For the fiscal year ending August 31, the 1CM stores generated CA$53 million in revenue, with 30 stores operational at that time. With this purchase, SNDL will expand its total number of owned and franchised cannabis stores to 219.<\/p>\n\n\n\n
Zack George, CEO of SNDL, stated that adding these locations will enhance the company\u2019s reach to a diverse consumer base in significant Canadian markets. He emphasized that this move aligns with their goal of building a sustainable cannabis retail portfolio at scale.<\/p>\n\n\n\n
According to the release, 1CM plans to return a significant portion of the sale proceeds to its shareholders and use the remaining funds for developing new locations and general corporate purposes.<\/p>","protected":false},"excerpt":{"rendered":"
Spole\u010dnost SNDL, kanadsk\u00fd provozovatel konop\u00ed, koupila 32 obchod\u016f s konop\u00edm za $32,2 milionu CA, co\u017e je p\u0159ibli\u017en\u011b $23 milion\u016f v USA.....<\/p>","protected":false},"author":2,"featured_media":4749,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46],"tags":[1398,141,1473,1471],"class_list":["post-4750","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry","tag-1cm","tag-canada","tag-cannabis-retail-chain","tag-cannabis-stores"],"yoast_head":"\n