Alimentation Couche-Tard has announced the closing of a strategic investment deal in cannabis retailer Fire & Flower that was announced July 24.
The $26 million investment gives Couche-Tard a 9.9 per cent ownership interest in Fire & Flower. The investment will enable Fire & Flower to leverage the global infrastructure and expertise of Alimentation Couche-Tard to expand globally.
"Through this strategic investment, we reinforce our intention to become a key player in North America's cannabis industry," said Brian Hannasch, president and CEO of Couche-Tard. "We are excited to see what we can achieve together with Fire & Flower, as we further expand in Canada and look to leverage our presence in the United States and beyond."
As part of the closing, Fire & Flower has appointed Jeremy Bergeron as Couche-Tard's initial nominee to Fire & Flower's board of directors.