Grow Opportunity

News Business
Fire & Flower acquires PotGuide and Wikileaf for $16M


September 15, 2021
By Grow Opportunity staff

Topics

Canadian cannabis retailer, Fire & Flower Holdings Corp., has purchased two popular cannabis websites as part of its brand portfolio.

The company announced on Sept. 15 that it has acquired shares of PGED Corp., which owns PotGuide, for US$8.5 million and Wikileaf Technologies for US$7.5 million. Hifyre Inc., which is the retailer’s wholly-owned data and analytics platform, is looking to leverage these new acquisitions to expand its virtual presence and the company’s e-commerce revenue channels.

“Since Day One, we’ve been focused on becoming the most technology-forward retailer serving the cannabis space by leveraging our vast retail expertise alongside our powerful Hifyre data and analytics platform,” said Trevor Fencott, Fire & Flower CEO.  “Through our expanded digital strategy and strategic acquisitions, we are building an asset-light business model that, in concert with our existing physical retail network, is expected to deliver high-margin opportunities, recurring revenue and further engrain customer loyalty with Fire & Flower.”

PotGuide and Wikileaf has a total subscriber base of about 225,000. Fire & Flower’s Spark Perks program boasts more than 310,000 subscribers that allows Hifyre to develop individualized customer profiles that provide product recommendations as well as rewards and discounts for future purchases.

Advertisement