Calgary-based FOUR20 has recently acquired three retail competitors – Green Rock, Urban Canna, and Bene Buds – which will allow the opening of 10 new FOUR20 locations this month.
The new stores will be located in Calgary (four), Sylvan Lake, Edmonton, Okotoks, Lethbridge, St. Albert, and Sherwood Park, for a total of 24 in Alberta, with a 25th under construction in Kitchener, Ontario.
“Our continued focus on Alberta demonstrates our confidence in the long-term viability of this marketplace,” said CEO Scott Morrow. “Edmonton and Calgary represent the 3rd and 4th largest Cannabis retail markets in Canada. Alberta is also the most competitive retail environment in Canada. Our continued success in this market positions us very well for growth into other provinces.”
The recent acquisitions have allowed the firm to expand quickly and with the rebranding and reopening of these stores, they are hoping to rejuvenate business in local neighbourhoods, create jobs and become “great community partners,” the company said.
The Bene Buds store in Sherwood Park is the sixth location for FOUR20 in the greater Edmonton area. They operate 12 stores in Calgary.
FOUR20 sets a high standard in the cannabis retail space, winning the Best of Calgary award for best cannabis dispensary in 2019 and 2020.
“Even with the influx of cannabis dispensaries popping up over the past few years, FOUR20 has remained strong and won this category once again,” according to Best of Calgary. “They strive to ignite community, spark a new culture and elevate the experience through their product and brand.”