Quebec convenience store giant Alimentation Couche Tard (which also owns Circle K stores) will pay $380M over 36 months for a controlling 50.1% stake of REC retailer Fire and Flower, hoping to spur “aggressive growth.”
Globe and Mail
- Fire and Flower is considering expansion to Mexico, Australia, and New Zealand, provided those nations legalize.
- Couche Tard is the world’s largest convenience-store operator, with 10,000 stores in North America, and an additional 5,000 in Europe and Oceania.
- This is Couche Tard’s second cannabis investment, after partnering with Canopy in February to open a Tweed-branded REC retailer in Ontario.
- Prior to legalization, Couche Tard unsuccessfully lobbied the Quebec government throughout 2017 to allow the sale of cannabis in convenience stores and dépanneurs.
CTV News, Equity Guru, CBC Business