VANCOUVER, British Columbia, Sept. 22, 2021 (GLOBE NEWSWIRE) -- Jima Cannabis (“Jima”), a BC-based, recreational cannabis retail brand with one store in Abbotsford, B.C., and four more opening soon in the province, has made a big splash by acquiring Ontario-based retailer, High Tea Cannabis Co. (“High Tea”). With AGCO approval of the deal through parent company T-CANN Retail Ltd., Jima is now a multi-location, national cannabis brand with a rapid expansion plan and a dynamic franchise and affiliate model.
As part of the agreement, Jima will welcome the Ontario High Tea stores located in Brampton, Scarborough, St. Thomas, York West and Windsor to the Jima family network. The stores will remain operational with no store level administration changes. As part of the growth strategy, additional High Tea stores are set to open in the fall of 2021 in York, North York, Hamilton, Beamsville and Petersburg.
High Tea was a strategic acquisition for Jima, as the company and brand values reflect one another, emphasizing a focus on the consumer journey and brand growth. Launched in 2020, High Tea's mission is to influence cannabis culture by being a reliable and trusted source of information on products through innovative social concepts, community connection, and world-class service. High Tea was also focused on entrepreneurship and aggressive expansion, which Jima emulates.
“Jima was founded with a vision to combine technology, retail operational excellence and customer experience together to form the foundation of a modern cannabis business,” says Jeff Prete, President & GM of Jima Cannabis. “When we started this journey as a small BC business in October 2020, we quickly shifted to include rapid expansion to the rest of Canada. With the acquisition of High Tea, we now have an Ontario network of stores which acts as a strategic position for our expansion. This is just the beginning, Jima will partner with current and future store owners and operators who are navigating the licensed cannabis industry.”
RETAIL EXPANSION & FRANCHISE MODEL
Jima has a rapid expansion plan and franchise model, officially launching today. On the horizon for 2021 are new stores for BC in development and under construction including Douglas Street (Victoria), Yates Street (Victoria), West 4th Avenue (Vancouver), Cambie Street (Vancouver), with several more on the way. The network model for corporate stores and the acceleration plan for the company includes a core focus on real estate, operational and marketing expertise with technology as the leading accelerant to driving profitable growth for the stores and franchise owners.
Retailers currently operating or interested in opening stores in the Canadian cannabis retail market have an opportunity to own franchise locations in the Jima network. The benefits include leveraging Jima’s operations and technology expertise, category management, HR, marketing, finance, and data insights.
There is also an opportunity for owners to participate in Jima’s affiliate program which can help other retail banner brands grow their business effectively and profitably. The Jima Franchise & Affiliate Program details and offerings can be found at www.jimafranchise.com or reaching out to the team at JoinUs@JimaFranchise.com
"Our robust franchise and affiliate offerings bring best-in-class franchise programs into the cannabis industry,” said Alex Read, VP, Brand Expansion, Jima Cannabis. “We intend to remove pain points for cannabis business owners; we are looking forward to helping cannabis store owners unlock their entrepreneurial dreams."
Jima Cannabis is about a lot more than just cannabis. We are innovation, we are community, we are Jima. Relax, we’ve got you.
Jima Cannabis Website: www.jima.ca
Follow Jima Cannabis on social media:
Instagram @JimaCannabis
Twitter @JimaDotCa
Facebook @JimaDotCa
TikTok @JimaDotCa
For questions and interview requests please contact:
Parveen Singh
parveen@wearemaverick.com
M 437-247-5230
ABOUT JIMA CANNABIS
Jima is the recreational cannabis retail division in the TCap Private Equity portfolio, a private equity firm based in Vancouver BC. The retail network includes locations in British Columbia and Ontario, under their Jima Cannabis and High Tea Cannabis Co. banners, with plans for rapid expansion through corporate and franchise locations across the national Canadian market. The company and Jima brand are based out of BC’s west coast with a west coast island attitude and mentality, putting community and people first and curating a selection of local and national cannabis products for sale in-store and online.
