In 2019 Couche Tard entered into an agreement with Canopy Growth . This agreement creates a strategic partnership in the creation of Tweed brand stores in Canada and the US.
In 2019 Couche Tard entered into an agreement with cannabis seller Fire And Flower. Under the terms of the agreement Couche Tard paid $26 MM(CA) for a 9.1% interest. The agreement includes warrants that would allow Couche Tard to increase its ownership to 51.6%. Currently Fire and Flower operates 74 retail outlets currently throughout Canada. Fire and Flower acquired the cannabis retailer Friendly Stranger to further expand. Couche Tard and Fire and Flower are working together to explore the best way to maximize the partnership. One possibility under consideration is to have Fire and Flower stores adjacent to Couche Tard stores. Fire and Flower is also looking at the Couche Tard partnership as a vehicle to expand into other countries beyond Canada. This would include the US.
The recreational cannabis market for Canada is forecast to be around $5.5 B (Canadian) for 2021. Forecast for the US market for 2025 range from $30-40B. So participation in these markets could add significant revenues for Couche Tard.
The above excerpt is from the following article:
https://seekingalpha.com/article/4402498-2021-critical-year-for-alimentation-couche-tard
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