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.”
“Couche-Tard is excited to make this strategic investment in one of the fastest growing cannabis