Categories: BusinessNews

Circle K’s Parent Company Invests in Canadian Cannabis Retailer Fire & Flower

Owner of the Circle K chain of retail stores, Canada’s multinational convenience-store business Alimentation Couche-Tard has announced that it is investing in Fire & Flower Holdings Corp., owners of the Fire & Flower Inc. cannabis retailer in Canada. Fire & Flower offers a curated selection of hand-picked strains, in addition to apparel and accessories such as dab gear, grinders, housewares, and more. The cannabis company maintains a Saskatchewan-based wholesale distribution unit and operates or licenses 23 cannabis retail stores in Alberta, Saskatchewan and Ontario. Fire & Flower also owns the proprietary Hifyre™ digital retail platform for cannabis consumers.

“Convertible debentures worth about $26 million Canadian ($19.8 million) would give the Quebec-based company a 9.9 percent stake under the agreement,” reports the Boston Globe. “Couche-Tard will also get warrants which would allow it to boost its stake to 50.1 percent. Edmonton-based Fire & Flower said that would give it more than $380 million Canadian in growth capital.”

With American Eagle Outfitters and Rite Aid both now selling CBD-infused products, Couche-Tard is the latest in a line of major retailers to become involved in the cannabis industry.

“Couche-Tard is excited to make this strategic investment in one of the fastest growing cannabis ‘pure-play’ retailers,” president and CEO of Couche-Tard, Brian Hannasch, said in a press release. “This investment in Fire & Flower, with a path to a controlling stake, will enable us to leverage their leadership, network and advanced digital platform to accelerate our journey in this new and flourishing sector.”

Fire & Flower’s CEO, Trevor Fencott, added: “This strategic investment by Couche-Tard, one of the world’s largest retailers, is transformative for Fire & Flower. The support of Couche-Tard’s world-class leadership team, coupled with their capital strength and impressive international footprint, provides us with outstanding opportunities for aggressive growth.”

Couche-Tard has a network of nearly 10,000 convenience stores throughout North America, employing over 100,000 people throughout its network and North American service offices. Fire & Flower is the second cannabis company to attract the attention of Couche-Tard, which also recently came to a financial agreement with Ontario-based Canopy Growth Corporation, the first publicly-traded cannabis company in North America.

Tanja M. Laden

Recent Posts

Elite Cultivation, Where The People Make The Difference

“It’s about the people.” Elite Cultivation, headquartered in Wynnewood, Oklahoma, is more than a medicinal…

1 month ago

THCA Moonrocks Review

One thing that’s clear is that THCA flower isn’t going anywhere any time soon.  In…

1 month ago

Where Cannabis Meets Cultural Legacy: Xzibit’s XWCC and Snoop Dogg’s SWED

Rappers Xzibit and Snoop Dogg have each opened dispensaries in California, aiming to bring the…

1 month ago

Effects of coir-based media on the performance of Cannabis plants

Coir is widely utilized by numerous cannabis companies worldwide due to its ease of use…

2 months ago

The Jockey, A Short Story by Charles Bukowski

He was already big enough to control one ton of racing beast. But could he…

5 months ago

Rasta Itations

From Aethiopia by way of Babylon the Brethren of Rastafari await the prophesied Exodus and…

5 months ago