Global retailer Couche-Tard Inc. sets sights on the global cannabis market with large investment in cannabis retailer Fire & Flower Holdings.
Fire & Flower announces strategic investment by Couche-Tard and receives conditional approval to post its common shares for trading on the TSX.
In addition, the agreement allows for Couche-Tard to obtain a controlling interest in Fire & Flower with an investment of more than $380,000,000 of growth capital for Fire & Flower’s global expansion.
Funds to help develop digital retail platform
Overall, this investment will provide Fire & Flower with additional funds to support the further development of its Hifyre digital retail platform. Also, it will support the expansion of their retail store network across Canada and internationally.
“This strategic investment by Couche-Tard, one of the world’s largest retailers, is transformative for Fire & Flower;” shared Trevor Fencott, Fire & Flower’s Chief Executive Officer.
Moreover, Fencott adds that paired with Couche-Tard’s world-class leadership team and international footprint; it will provide them with outstanding opportunities for aggressive growth.
“Couche-Tard is excited to make this strategic investment in one of the fastest growing cannabis ‘pure-play’ retailers;” said Brian Hannasch, President and CEO of Couche-Tard.
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