Fox Represents Leading E-commerce Retailer in Sale to Canadian Cannabis Corporation High TideFebruary 1, 2021 – Press Releases
A Fox Rothschild corporate team represented Smoke Cartel, Inc., a leading e-commerce marketplace for cannabis consumption accessories and hemp derived CBD products, in its sale to High Tide Inc., the largest Canadian retailer of recreational cannabis by revenue.
High Tide has entered into a definitive agreement to acquire all of the issued and outstanding shares of Smoke Cartel for $8 million. Subject to receipt of all regulatory, shareholder and other approvals, the transaction will be completed in March 2021.
Founded in 2013, Smoke Cartel provides a marketplace with a wide variety of high-quality products, subscription boxes, customer service and rapid dependable shipping, and leverages its proprietary marketplace technology to seamlessly connect brands and vendors with its customer base.
Upon closing, High Tide anticipates that the acquisition will create immediate synergies and enhance its profitability by gaining access to Smoke Cartel's proprietary drop-shipping technology; allow its brands and existing inventory to reach Smoke Cartel's customers across the United States, Canada, the United Kingdom, Australia, Germany and Mexico; and provide it with access to Smoke Cartel's database of more than one million email and social media contacts.
The Fox team that worked on the deal was comprised of Matthew R. Kittay, Maureen R. Monaghan, Zev M. Bomrind and Joseph E. Bochenek.