Canadian cannabis investment firm Green Acre Capital has backed the merger of three smoke shop product distributors: BOB Headquarters Inc, Windship Trading Co and Vapor Outlet. No financial terms were disclosed. The combined entity creates a North American wholesale network able to distribute more than 10,000 smoke shop and counter-culture products. It will be led by Robert Ritchot, CEO of Brandon, Manitoba-based BOB Headquarters. Earlier this year, Green Acre raised capital for its Green Acre Capital Fund, which invests in medical and recreational cannabis opportunities.
Smoke Shop Product Distributors Merge to Form Distribution Powerhouse
With Private Investment From Green Acre Capital, Combined Entity to be a Leader in Distribution in North America
TORONTO, Sept. 05, 2017 (GLOBE NEWSWIRE) — B.O.B. Headquarters Inc., Windship Trading Co. and Vapor Outlet, all leading contemporary smoke shop product distributors, are pleased to announce their business combination. The combined entity has been created through the merger of B.O.B. Headquarters Inc. and Windship Trading Co. with the simultaneous acquisition of Vapor Outlet, creating a North American wholesale network providing a diverse range of products to dispensaries and contemporary smoke shops.
The company will be led by Robert Ritchot, a 20 year industry veteran and currently the CEO of Brandon, Manitoba-based B.O.B. Headquarters Inc. “With the merger, we will be one of the largest distribution networks for hardware and accessories in North America. In a time of unprecedented growth for this industry in Canada and the U.S., I’m thrilled with the combined entity’s talent and experience and confident in our ability to continue to aggressively grow and expand,” says Ritchot.
U.S. operations will be led by Nathan Todd, current President of Windship Trading Co. Todd’s involvement in this industry began in 1995 and eventually grew into a global wholesale operation. Todd says, “As the industry continues to mature and diversify there hasn’t been a more exciting time to expand. This merger will allow us to offer our customers a broader range of products and greater reach.”
Financial backing for the acquisition and future growth was led by Green Acre Capital, a Canadian-based private investment fund. “The opportunity to help bring together three great companies that have been very successful in this space for many years is quite exciting. They are incredibly well positioned to excel in this industry and we look forward to supporting these talented entrepreneurs and this business as it continues to grow,” the Fund’s Managing Director, Matt Shalhoub, says of the investment.
The business combination closed on September 1st, 2017, and the businesses and their respective sales outlets will maintain their existing identities at this time.
About the Company
The company is a leading North American distributor of smoke shop and counter culture products with many decades of combined experience. With distribution facilities in Canada and across the U.S. the company is able to efficiently distribute over 10,000 different products to thousands of customers throughout North America and abroad.
Photo courtesy of Reuters/Rick Wilking