High Tide Inc. said Monday it’ll acquire 80% of Denver-based CBD products company NuLeaf Naturals at an enterprise value of $39 million. Calgary-based High Tide will buy 80% of NuLeaf Naturals for $31.24 million and will have a three-year option to acquire the remaining 20% of the company at any time. Founded in 2014, NuLeaf produces and distributes premium cannabidiol (CBD) wellness products. It’s able to produce 60,000 plant-based softgels per hour and is one of only a few manufacturers in the U.S. that makes vegan softgel capsules. Shares of High Tide rose 2% in premarket trades. The stock is up 102% so far this year.
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