Canadian cannabis company High Tide announces 2 white label partnerships
High Tide Inc., a retail-focused cannabis corporation based in Calgary, Aberta, Canada, announced two white label partnerships. The company will work with Heritage Cannabis Holdings, a vertically-integrated cannabis provider, and Loosh Inc., a cannabis edibles and finished goods manufacturer. Heritage and Loosh will manufacture High Tide’s “Cabana Cannabis Co.” branded "shatter" concentrate and THC gummies respectively.
High Tide is the most profitable Canadian retailer of recreational cannabis as measured by Adjusted EBITDA, with 93 locations spanning Ontario, Alberta, Manitoba and Saskatchewan. High Tide's retail segment features the Canna Cabana, Meta Cannabis Co., and Meta Cannabis Supply Co. banners, with additional locations under development across the country. High Tide has been in business for over a decade through its established e-commerce platforms including Grasscity.com, Smokecartel.com, Dailyhighclub.com, and Dankstop.com. Recently, the company has expanded into the hemp-derived CBD space through CBDcity.com and FABCBD.com as well as its wholesale distribution division under Valiant Distribution, including the licensed entertainment product manufacturer Famous Brandz.
“I am excited to announce High Tide's new white label rollout which has been in the works for quite some time,” said Raj Grover, president and CEO of High Tide. “We have taken a measured approach in launching our own house-branded products given the oversupply of branded biomass in the Canadian market. That's why we are moving cautiously by making an entry into the 2.0 category which is much less crowded. We are also in negotiations with Canadian licensed producers to bring select products from the FABCBD catalogue into our store network and look forward to expanding into other categories in due course as market dynamics evolve.”
Heritage Cannabis was among the first companies to launch retail ‘dabs’ and ‘live resin’ products in Canada. They rank in the top three in sales for concentrates in Canada. Loosh Brands is a privately held licensed producer of cannabis products that supports best-in-class brands, formats and retailers from its strategic production and sensory testing facility in Toronto.
“We admire High Tide’s focus on consumer education and best-in-class retailing, and are proud to partner with them to get High Tide-branded concentrate products in the hands of Canadian consumers," said David Schwede, CEO and president of recreational cannabis at Heritage Cannabis. "This strategic relationship allows us to strengthen and expand our concentrate portfolio and provides the opportunity to further our partnership with one of the leading cannabis retailers in the country.”