SNDL Acquires 32 Cannabis Stores for CA$32.2M

SNDL Inc. has announced its agreement to acquire 32 cannabis retail stores from 1CM Inc. for 32.2 million Canadian dollars, expanding its presence in Ontario, Alberta, and Saskatchewan. The stores, which generated approximately CA$53 million in revenue for the fiscal year ending August 31, will bring SNDL's total owned and franchised cannabis store count to 219. The acquisition is pending court and regulatory approvals, along with a vote from 1CM shareholders scheduled for June. SNDL’s CEO, Zack George, emphasized that this move aligns with the company's capital priorities and aims to enhance its retail portfolio. The deal is expected to close by the end of the third quarter, pending the necessary approvals. 1CM's board has unanimously approved the transaction, viewing it as beneficial for shareholders.