Marijuana is a fast and growing industry and M&A is starting to see some activity. This company is expanding its footprint with a recent acquisition at a prime retail Ontario location.
Cannabis retailer and wholesaler distributor Kiaro Holdings Corp. (TSXV: KO) entered into a definitive agreement with Aegis Brands Inc. to acquire its subsidiary, 2734524 Ontario Inc., with seven retail locations in Ontario. The transaction n will more than double Kiaro's retail footprint and give it a significant presence in the Ontario retail cannabis market. The move amplifies Kiaro’s presence in Ontario and provides expected annual Revenues of $42.7 million.
In addition, the purchase provides Kiaro an entry into the U.S. and Australian markets, with new revenue segments from the US and Australian jurisdictions with consumption accessory sales. Kiaro expects that the transaction allows the company to be well-positioned to take advantage of any future US and Australia advances towards federal legalization.
Related Stories
