The renowned retail cannabis company, High Tide Inc. (NASDAQ:) (TSXV:HITI), has recently entered into an agreement to distribute cannabis products across Manitoba. This venture is facilitated by its subsidiary company, Valiant Distribution Canada. The company’s existing wholesale operations span across Saskatchewan, Las Vegas, Amsterdam, and numerous global markets. This expansion is expected to strengthen High Tide Inc.’s position along the cannabis value chain and satisfy Manitoba’s market demands.
High Tide’s Expansion into Manitoba
High Tide Inc., a leading player in the retail cannabis sector, has disclosed its plan to extend its distribution network into Manitoba using its subsidiary, Valiant Distribution Canada. This will allow High Tide to supply cannabis stores within the vicinity.
The Collaboration with MBLL
The agreement between High Tide’s Valiant Distribution and the Manitoba Liquor and Lotteries Corporation (MBLL) will enable the former to manage inventory and monitor cannabis products sourced from licensed producers, thereby broadening its distribution channel. Raj Grover, the CEO of High Tide, is optimistic about the company’s foray into Manitoba’s market which will leverage their existing experience in wholesale and strategic partnerships.
The role of Valiant Distribution
Valiant Distribution, renowned for distributing high-quality consumption accessories, underpins the vertical integration strategy of High Tide. It supplies to High Tide retail channels and an expansive international network. High Tide, acknowledged as one of Canada’s fastest-growing companies, runs Canna Cabana – the largest non-franchised cannabis retail chain in Canada, along with several e-commerce platforms.
Part of a Broader Strategy
The venture into Manitoba is an integral part of High Tide’s comprehensive strategy to consolidate its stance across the cannabis supply chain. The company aims to utilize its seasoned expertise in distribution and wholesale operations to meet Manitoba’s market requirements.