High Tide Inc. HITI, Canada's largest cannabis retailer, welcomed the Alcohol and Gaming Commission of Ontario's decision "to permit retail cannabis licensees to enter into agreements with licensed producers related to store brand or white label cannabis products."
“The change comes after extensive consultation with industry stakeholders and was supported by the Ontario Chamber of Commerce,” stated High Tide in a press release.
"Today's revisions to the Registrar's Standards will mean that when it comes to white label products and store brands, Ontario's cannabis retailers will be treated on par with other retail sectors, both regulated and unregulated. The new Standard will also facilitate retailers both large and small, in differentiating their products, brands, and stores," said Raj Grover, president, and CEO of High Tide.
In 2021, High Tide announced it has entered into two white label partnerships with Heritage Cannabis Holdings CANNHERTF and cannabis edibles manufacturer Loosh Inc. which is doing business as Loosh Brands. Under the terms of the agreements, both Heritage and Loosh opted to manufacture High Tide's "Cabana Cannabis Co." branded shatter and THC gummies, respectively, for distribution in Ontario, Manitoba, Saskatchewan, and Alberta.
High Tide is not the only company signing white-label agreements in Canada. White-label deals are becoming increasingly popular as the industry diversifies and cannabis businesses specialize in certain market segments.
BevCanna Enterprises Inc. BVNNF announced it has entered into an agreement to manufacture and distribute white label cannabis beverages with the Vancouver-based company, Averi Health Products. Averi agreed to launch a portfolio of cannabis-infused beverages into the Canadian market by employing BevCanna’s white label partnership model, which allows non-licensed partners to enter the cannabis market in the country seamlessly and compliantly.
Averi Health is the sixth client that BevCanna added to its growing roster of high-profile, white-label-infused cannabis clients.
According to MediPharm's CFO, Greg Hunter, the growth of the manufacturing and white label business encourage the revenue of the company. MediPharm teamed up with Sunco Green Pharmaceutical Pty Ltd to supply the Australian medical cannabis market and New Zealand with GMP-certified cannabis products. The two-year white-label agreement was MediPharm's 12th deal to supply Australia with cannabis.
The Valens Company Inc. VLNS confirmed a white label partnership with cannabis retailer Fire & Flower Holdings Corp. FAFFFLWF last October. Under the deal, Valens will manufacture Fire & Flower's Revity CBD oil for distribution in Ontario, Manitoba, and Saskatchewan with the potential to expand into additional provincial markets.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Missed the first wave of cannabis investments? Don’t make that mistake again.
Experts believe cannabis stocks have found their floor and are now poised for unprecedented growth.
Join Benzinga PotProfits. Our in-house canna stock expert, Michael Berger, is on a mission to uncover the most promising cannabis stocks poised for growth, even in a dull market. He leaves no bud unturned to bring you the juiciest potential double-digit opportunities!
Just this year, the PotProfits portfolio has seen smoking-hot gains like:
- 47.10% with $GTBIF
- 40.23% with $TCNNF
- 21.50% with $VFF