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High Tide to acquire premium Canadian cannabis brand, Queen of Bud
March 15, 2024 By Grow Opportunity Staff
(CNW) Calgary —High Tide Inc., the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, is pleased to announce that it is taking yet another step to expand its international brand portfolio by entering into a definitive agreement pursuant to which High Tide will acquire all IP, including trademarks and other assets of the Queen of Bud brand.
Its founder, Ashley Newman, will take the role of global brand ambassador. This well-known, selectively curated cannabis product portfolio is already available in Canada, and its popular ancillary products can be sold right now in the United States and Europe without having to rely on further legislative reforms.
Queen of Bud, which is currently selling products across Canada both direct to consumer and through third-party licensed cannabis stores, joins High Tide’s industry-leading and consumer-facing brand roster that includes NuLeaf Naturals, FAB CBD, Blessed CBD, Cabana Cannabis Co, Famous Brandz, Vodka Glass, Puff Puff Pass, Dopezilla, Atomik, Silipipe, Evolution and more.
“I am thrilled to welcome Queen of Bud into our High Tide family. With well-established brand equity and an extensive customer base across Canada, especially among women, this is an exciting new addition with tremendous future opportunities. This is a strategic investment which will fortify our overall ecosystem, and we expect will deliver meaningful value to shareholders while allowing us to stay nimble and not burden the Company with large capex commitments or overhead. With Ontario, Manitoba and Saskatchewan already allowing white-label brands, and with Alberta and B.C. considering it, this is a timely move that will allow us to continue expanding our ever-increasing in-house brand portfolio,” said Raj Grover, founder and CEO of High Tide.
“As one of the first female founders in the Canadian cannabis industry, it’s been an incredible journey building this brand to where it is today. This is a pivotal moment for the Queen of Bud. Given High Tide’s expertise, extensive store network and capital resources, I feel confident that this arrangement will elevate the brand to even greater heights. Together, Raj and I envision not only elevating cannabis to new heights of sophistication but also expanding our horizons beyond borders into international markets, delving into accessories, candles, fragrances, and beyond. Our heartfelt commitment to customers and passion for excellence fuel this journey, inspiring positive change and innovation in the cannabis world,” said Ashley Newman, founder and CEO of Queen of Bud.
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