Canadian Cannabis Retailer High Tide Buying US CBD Company For $20.6M
High Tide will have a three-year option to acquire the remaining 20%
Calgary, Alberta-headquartered High Tide is again dipping its toes in the U.S. acquisition market, this time with a definitive agreement to buy FabCBD, a Milwaukee-based e-commerce marketplace for hemp-derived CBD products and accessories.
High Tide announced early Monday it is acquiring 80% of Fab Nutrition, which does business as FabCBD, for $20.6 million ($25.4 Canadian dollars) in cash and stock.
High Tide will have a three-year option to acquire the remaining 20% at any time, according to a news release.
The deal comes on the heels of High Tide’s $8 million acquisition of Smoke Cartel, another e-commerce website that sells cannabis accessories and CBD products in the U.S.
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