High Tide to Acquire Northern Helm, Adding Four Established Retail Cannabis Stores in Ontario

High Tide Inc. has announced its acquisition of J. Supply Holdings Inc., operating as Northern Helm, for a total transaction value of approximately $7.74 million. The deal, finalized on June 15, 2026, will see High Tide acquire four retail cannabis stores located in Ontario, thereby expanding its footprint in the Canadian cannabis market. This acquisition increases High Tide's total store count to 228 locations across Canada, with 103 of those situated in Ontario.

High Tide Inc., a prominent player in the cannabis retail sector, operates under its flagship brand Canna Cabana, which is recognized as the second-largest cannabis retail brand globally. The company has established a diversified business model that encompasses not only retail operations but also medical cannabis distribution through its subsidiary Remexian Pharma GmbH. This strategic acquisition of Northern Helm aligns with High Tide's broader objective of enhancing its retail presence and market share, particularly in Ontario, which is a key growth region for cannabis retail.

The acquisition of Northern Helm's stores is expected to bolster High Tide's operational capabilities by integrating these locations into its existing network. The four stores, located in Bowmanville, Kingston, Courtice, and Oshawa, are strategically positioned to attract a diverse customer base. The transaction is structured with a combination of cash and stock, with approximately $3.2 million in assumed debt and the remainder paid in cash and shares. This financial arrangement underscores High Tide's approach to acquiring cash-flowing assets at favorable multiples, as the purchase price represents 4.5 times the annualized Adjusted EBITDA of the stores for the first quarter of 2026.

The cannabis sector continues to experience significant growth, driven by increasing consumer demand and regulatory advancements across Canada. High Tide's expansion through this acquisition is indicative of a broader trend within the industry, where established players are seeking to consolidate their market positions and enhance operational efficiencies. As the cannabis landscape evolves, companies that can effectively integrate new assets and scale their operations are likely to gain a competitive advantage.

Looking ahead, High Tide's acquisition of Northern Helm positions the company favorably within the rapidly growing cannabis market. The company's strategy to surpass 100 stores in Ontario marks a significant milestone and aligns with its long-term goal of establishing a robust network of over 350 locations. As High Tide continues to expand its retail and medical cannabis operations, it is well-positioned to capitalize on the growth opportunities within the sector, contributing to sustained shareholder value and market leadership in the cannabis industry.