FOUR20 Premium Market owns and operates six stores in Alberta and has secured 16 additional high-traffic store locations in cities including Canmore, Calgary, and Edmonton.
Tilray will pay up to C$110M subject to FOUR20 achieving performance milestones.
Garrett Popadynetz, CFO of FOUR20 says, “Tilray’s investment will allow FOUR20 to carry out its vision to create a premier cannabis brand with a strong focus on educating the cannabis consumer and building careers for those who want to work in the cannabis industry.”
Tilray and High Park will leverage FOUR20’s retail expertise and brand and market knowledge to expand into other Canadian provincial markets where licensed producer retail ownership will be permitted in the future.
“FOUR20 offers a premium retail experience for the mainstream cannabis consumer and builds on our broader retail strategy, which includes several minority investments in other leading cannabis retailers,” says Tilray Chief Corporate Development Officer Andrew Pucher. “With FOUR20, we will elevate the retail experience for consumers by offering the best quality-tested products while preparing for the next wave of legalized product launches taking place by year’s end.”
FOUR20 will operate as a wholly-owned subsidiary of Tilray and will continue to offer consumers a diverse selection of brands and products from craft and mainstream producers including High Park.