High Tide Inc. (CVE: HITI) (NASDAQ: HITI) (FRA: 2LYA) has officially taken a significant stake in Germany’s rapidly expanding medical cannabis market.
The nation’s sector has been experiencing immense growth since the implementation of its Cannabis Act in April last year. This legislation decriminalized possession of the plant for recreational use and simplified the prescription process for patients immensely. By the end of 2024, the number issued had increased by more than 1,000 per cent.
The plant’s removal from the strict controls of the Narcotics Act also eliminated the need for cultivators to compete in a Europe-wide tender process. Since Apr. 1, they have been able to directly apply for licenses from the Federal Institute for Drugs and Medical Devices.
On Thursday, High Tide revealed that it has entered a definitive agreement to take a 51 per cent interest in the country’s established medical cannabis wholesaler Remexian Pharma GmbH. It will cost the Calgary-based company approximately C$43.8 million.
CEO Raj Grover highlighted that the transaction represents High Tide’s first entry into the international cannabis sector.
“By combining Remexian’s national distribution reach with our unmatched Canadian procurement expertise, we’re set to increase Canada’s footprint in German medical cannabis imports and open the door to broader European opportunities,” he boasted.
Remexian’s managing director
Medical cannabis has been legal in Germany since 2017 but was much more tightly controlled until last year. Despite having a select group of domestic cultivators, such as Aurora Cannabis Inc. (TSE: ACB) (NASDAQ: ACB) (FRA: 21P), Demecan and Tilray Brands Inc (TSE: TLRY) (NASDAQ: TLRY) (FRA: 2HQ), demand has been exceeding supply significantly. This has made the nation one of the world’s top importers of medical cannabis, primarily procuring its products from Canada, the Netherlands and Portugal.
High Tide’s entry into the market will result in heightened competition in the wholesale and import segments of the sector.
@HighTide_HITI acquiring 51% of Remexian – a major player in the German medical cannabis market.
Generated annualized 70MM EUR of revenue and 15MM EUR of EBITDA (6 months ending Q1/25).
Paying just 3.6x EBITDA – 42% shares, 29% cash, 29% loans.
https://t.co/FRK3zxVu9t$HITI— Vahan Ajamian (@VahanAjamian) August 14, 2025
Read more: Cannabis stocks and ETFs rally as Trump considers rescheduling
High Tide intended to enter Germany earlier this year
In January, the Canadian cannabis operator said it was going to take an equivalent stake in Purecan GmbH — another German medical wholesaler.
After reviewing the transaction specs, the company went back on its decision the following month without providing much explanation. The Conservative election victory in Germany that month and subsequent concerns about tightening of regulations in the industry may have been a contributing factor at the time.
It is uncertain if a deal between the two companies will be revived.
High Tide has now agreed to invest much more into the German market than the C$7 million that the majority interest in Purecan would have cost.
Read more: Virgin Atlantic puts rumours about flights with cannabis drinks to rest
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