SNDL to purchase four Dutch Love cannabis stores in $7.8M deal
BNN Bloomberg
Calgary-based pot retailer SNDL Inc. says it is buying four Dutch Love cannabis stores from Lightbox Enterprises.
SNDL says it is paying $7.8 million for three stores in B.C., one in Ontario and the right to use some of Dutch Love's intellectual property.
Around $1.5 million of the price will be paid in cash, $3 million will come in the form of cancelled debt owed by Lightbox to SNDL and $3.3 million will be paid in common shares of SNDL.
The stores SNDL will acquire generated a combined annual revenue of $11.5 million in 2022, with an average gross margin of 36.5 per cent.
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