High Tide Inc. opened its first international Canna Cabana retail location in Berlin’s Mitte district on December 1 2025, marking the company’s formal entry into Europe’s largest cannabis market. The flagship store, located at Alte Schönhauser Str. 2 near Alexanderplatz, focuses on cannabis accessories and lifestyle goods, positioning High Tide to build a loyal customer base before expanding into full cannabis retail as German regulations evolve.
The Berlin opening follows High Tide’s recent acquisition of a 51% stake in German medical‑cannabis importer Remexian Pharma GmbH, which closed on September 2 2025. The deal valued Remexian at €53.4 million, a multiple of 3.64 times annualized Adjusted EBITDA, and gives High Tide a distribution platform and regulatory foothold in Germany. By combining its proven Canna Cabana discount‑club model with Remexian’s local expertise, High Tide aims to capture a share of the country’s growing medical‑cannabis imports and prepare for broader retail operations as the market liberalizes.
High Tide’s Q3 2025 results underscore the strength of its expansion strategy. Revenue rose 14% year‑over‑year to $149.7 million, up from $131.7 million in Q3 2024, and exceeded analyst expectations by $3.5 million. Gross profit reached $40.1 million, while net income of $832,000 marked the company’s first profitable quarter since 2024. The earnings beat—$0.01 per share versus a consensus of $0.00—was driven by disciplined cost control and a 7.4% increase in same‑store sales, with the core brick‑and‑mortar segment growing 18% YoY.
The expansion into Berlin positions High Tide to capture medical‑cannabis imports, leverage its Cabana Club loyalty program, and prepare for future retail liberalization. CEO Raj Grover said the Berlin opening “unlocks a global opportunity” and that the Remexian acquisition “transforms High Tide into a global cannabis player.” Investors welcomed the strong earnings, reflecting confidence in the company’s ability to scale its membership‑driven model beyond Canada.
Looking ahead, High Tide maintains its guidance for 2025, confident in continued growth and the gradual opening of the German retail market. The company plans to deepen its presence in Europe while continuing to invest in its core Canadian operations, where same‑store sales and market share gains remain robust. The Berlin store will serve as a testbed for the company’s European strategy, with the Cabana Club loyalty program expected to generate valuable customer data and accelerate brand recognition across the continent.
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