That’s the price for Canada’s top vape retailer.
The acquisition was inked just 20 days before Canada rolls out retail sales nationwide.
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CannaRoyalty (OTC: CNNRF) plans to acquire a private company called 180 Smoke.
180 Smoke is a leading Canadian vape retailer. The company has 26 retail locations across Canada.
80% of customers at 180 Smoke are also potential cannabis users.
180 Smoke also owns 420 Wellness – a new brand that will operate the first cannabis dispensary in Calgary.
Starting Oct. 17, the company plans to expand into the cannabis market.
In the last eight months, 180 Smoke has generated $6.8 million in revenues. That means this business is on pace to generate annual sales exceeding $10 million.
That means CannaRoyalty is only paying 2.5x revenues for the acquisition. With many public companies trading at 50-times to 100-times sales, that looks like a bargain.
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Here’s the most exciting news…
180 Smoke Plans to Acquire More Vape Companies
A press release announcing the deal reveals this big opportunity. It’s part of the marijuana buyout boom.
You see, 180 Smoke plans to go on a buying spree, purchasing up small operators:
“Vape industry is ripe for consolidation . . . 180 Smoke estimates there are approximately 1,000 vape stores in the Canadian market, currently, with the majority of those stores owned by small owner/operators.
180 Smoke is ideally situated to make accretive acquisitions while driving cannabis optionality with each transaction. A dominant Canadian vape business is expected to be an attractive acquisition target to large, global nicotine companies.”
For CannaRoyalty, the 180 Smoke deal is just the start.
It plans to use this to launch a series of acquisitions across Canada.
The marijuana buyout boom is happening RIGHT NOW.
Seriously, every single day there is news like this. Either you’re sitting on the sidelines . . .
Or you’re making big profits.
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P.S. This is like investing in Anheuser-Busch in 1933 at the end of prohibition.
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Buyout Boom Alert: $25 Million for Cannabis Vape Company