SNDL to Acquire 32 Cannabis Retail Stores from 1CM Inc.

LOS ANGELES- SNDL Inc. has entered into an agreement to acquire 32 cannabis retail stores from 1CM Inc. for CAD 32.2 million in cash. The stores operate under the Cost Cannabis and T Cannabis banners and are located in Ontario, Alberta, and Saskatchewan. This acquisition will increase SNDL’s total owned and franchised cannabis retail store count to 219. ​

The 1CM stores generated annual revenue of approximately CAD 53 million for the fiscal year ending August 31, 2024. The transaction is expected to close by the end of the third quarter of 2025, pending customary approvals.

Zach George, Chief Executive Officer of SNDL, stated that the addition of these locations will enhance SNDL’s exposure to a broad consumer base in key Canadian markets and aligns with the company’s capital priorities to build a sustainable cannabis retail portfolio at scale. ​

1CM’s board of directors has unanimously approved the agreement and recommends that shareholders vote in favor of the transaction at the upcoming annual and special meeting, expected to be held in June 2025. Tanvi Bhandari, Chief Executive Officer of 1CM, expressed enthusiasm about the opportunity to unlock shareholder value through this transaction and looks forward to assisting SNDL with the transition.