Earlier in the week, Calgary-based cannabis retailer High Tide Inc. announced that it has entered into a definite agreement with Guelph, Ontario- based J. Supply Holdings Inc. in which it will acquire four of the six retail cannabis stores in Ontario currently operating under the Northern Helm in Ontario. The four stores are at 2377 Hwy 2 in Bowmanville, 225 Gore Rd in Kingston, 1414 King St. E in Courtice, and 199 Wentworth St W in Oshawa. These acquisitions will bring High Tide’s total store count to 228 Canna Cabana locations across Canada and 103 in the province of Ontario. “This acquisition highlights exactly how we intend to continue creating shareholder value: acquiring strong cash-flowing assets at reasonable multiples, integrating them into our proven operating platform, and compounding earnings over time,” said High Tide’s Founder, CEO Raj Grover. “Surpassing 100 stores in Ontario will be a significant achievement, but we view it as another step toward our long-term objective of building a 350-plus store network that remains unmatched in scale, efficiency, and customer loyalty.” Canna Cabana is the largest cannabis retail chain in Canada, with 228 domestic and one international location. The company’s Canadian bricks-and-mortar operations span British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario, holding a growing twelve percent share of the market. In 2021, Canna Cabana became the first cannabis discount club retailer in the world. The company also owns and operates multiple global e-commerce platforms offering accessories and hemp-derived CBD products. In 2025, the company became the first North American cannabis operator to launch a bricks-and-mortar presence in Germany. J. Supply Co acquired the Northern Helm brand in mid-2021 and two remaining Northern Helm stores are on Danforth Ave and on King St East in Toronto.
In addition, this week High Tide reported that for its second fiscal quarter of 2026 that ended in late April 2026, revenue was a record $179.3 million(Cdn), compared to $137.8 million(Cdn) during the same period last year, an increase of 30 percent. During the quarter, the company opened three new Canna Cabana locations in Ontario, bringing the total Canna Cabana store count to 221 locations across Canada. Also, the company’s wholly owned U.S. hemp-derived CBD subsidiary, NuLeaf Naturals, announced its intention to pursue participation in the U.S. Centers for Medicare & Medicaid Services Innovation Center’s Beneficiary Engagement Incentive pilot program as a supplier of eligible hemp-derived CBD products, and began engaging with participating organizations. As previously reported, High Tide stated its long-term goal of surpassing 350 locations nationwide and opening 20 to 30 locations in calendar 2026, mostly through organic growth, while also evaluating supplemental M&A opportunities of varying sizes. The Canna Cabana stores generally operate in the 1200 square foot range in various formats and Chris Wanzel and Michael Calderone at Urban Reform Realty are responsible for the site selection in Canada.
Urban Reform Realty Inc., 121 King St West, Suite 1120, Toronto, Ontario M5H 3T9 (Chris Wanzel- 416/450-2098 chris@urbanreformrealty.com) & (Michael Calderone – 416/409-7903 michael@urbanreformrealty.com)
J. Supply Co, 106 – 1515 Gordon St., Guelph, Ontario N1L 1C9 (www.jsupplyco.com & www.northernhelm.com)
High Tide Inc., #112, 11127 15th St. NE, Calgary, Alberta T3K 2M4 (855/747-6420 www.hightideinc.com)