High Tide enters into private label partnerships for cannabis 2.0 products
The partnerships are with cannabis supplier Heritage Cannabis Holdings, and Loosh Inc. dba Loosh Brands, a cannabis edibles and finished goods manufacturer.
Canadian cannabis retailer High Tide Inc. has made white label partnerships with cannabis supplier Heritage Cannabis Holdings, and Loosh Inc. dba Loosh Brands (LOOSH), a cannabis edibles and finished goods manufacturer.
According to the agreement, Heritage and LOOSH will manufacture High Tide’s “Cabana Cannabis Co.” branded shatter and THC gummies, respectively, for distribution in Ontario, Manitoba, Saskatchewan and Alberta with the potential to expand into additional Canadian jurisdictions.
“I am excited to announce High Tide’s new white label rollout which has been in the works for quite some time. 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,” said High Tide president and CEO Raj Grover. “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.”
“High Tide is one of the leading cannabis retailers in Canada with a wide reach in this rapidly growing market. We admire their 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, president and CEO 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.”
“This pioneering private label production relationship with one of North America’s leading publicly-traded platforms exemplifies the distribution channels and commercial relationships that we at Loosh provide and service,” said Ilya Serebyrany, founder and CEO of LOOSH. “We look forward to supporting a variety of sell-through and decentralized production relationships as the industry matures and we are pleased to support High Tide in executing on its no-capex manufacturing requirements.”
High Tide is said to be the most profitable Canadian retailer of recreational cannabis as measured by Adjusted EBITDA, with 93 current locations spanning Ontario, Alberta, Manitoba and Saskatchewan.