High Tide buys Chestermere cannabis store for $670,000 cash

Calgary-based High Tide Inc. completed the acquisition of an established retail cannabis store in Chestermere, Alberta, for $670,000 in cash on October 8, 2026. The transaction expands the company's retail network to 234 domestic locations across Canada and 93 stores in Alberta, according to a press release from the company.

The store is located at 100 Rainbow Road along an arterial route serving local residents and commuters travelling to and from Calgary. The building is co-tenanted by a national quick-service restaurant, personal service businesses, and professional services, and sits adjacent to a major discount grocer and a liquor store.

Valuation and Financial Terms

High Tide paid the full $670,000 purchase price in cash at closing. The acquisition price values the store at 2.1 times its annualized adjusted EBITDA of approximately $316,000, based on financial performance for the three-month period ended August 31, 2026. High Tide stated the arm's length transaction was completed without issuing equity.

“Great opportunities are worth waiting for. We’ve wanted to bring Canna Cabana to Chestermere for some time, but we weren’t prepared to compromise on location or economics just to enter the market,” Raj Grover, founder and chief executive officer of High Tide, said in a statement. Grover noted that the company will remain disciplined on valuations while pursuing future store growth through acquisitions or organic development.

Retail Operations and Market Share

High Tide plans to rebrand the Chestermere location under its Canna Cabana banner, which operates on a discount club retail model launched in 2021. The company's Canadian physical footprint spans British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario. Outside of British Columbia, where provincial regulations cap store ownership at eight locations per retailer, High Tide holds a 14 percent market share across its Canadian markets.

High Tide, which trades on the Nasdaq, TSX Venture Exchange, and Frankfurt Stock Exchange, expanded into Europe in 2025 by opening a retail store in Germany. The enterprise also operates global e-commerce platforms for accessories and hemp-derived products, alongside Remexian Pharma GmbH, a German medical cannabis distributor licensed to import from 22 countries. Remexian holds a 10.5 percent share of Germany's medical cannabis market. High Tide was included in the Globe and Mail's Report on Business list of Canada's top growing companies in 2026 for the sixth consecutive year.