Article by Jelena Martinovic , Benzinga
The price tag includes the business’ net working capital.
The acquisition’s finalization is expected to occur on Aug. 31, once all parties satisfy the conditions.
According to Thursday, the retail place is located , in the vicinity of Yonge-Dundas square.
Under the acquisition agreement, Fire & Flower would obtain the current Retail Operator License as well as Retail Store Authorization from the Alcohol and Gaming Commission of Ontario.
The store — located at 378 Yonge Street — will continue operating while it transitions to the Fire & Flower brand.
The Toronto-based company said it would announce the grand re-opening of the store on its website.
“As we begin to execute on our Ontario expansion strategy, Fire & Flower is thrilled to be acquiring this flagship location on Toronto’s high traffic Yonge Street,” said Fire & Flower CEO Trevor Fencott.