Feb. 24 at 1:18 AM
$HITI Remexian Pharma – The Hidden Gem in HITI's Portfolio
The Acquisition: A Masterclass in Value Investing
In September 2025, High Tide acquired 51% of Remexian Pharma GmbH for €26.4M, valued at just 3.64x annualized EBITDA. To put this in perspective: when Organigram acquired Sanity Group in February 2026, they paid €113.4M+ at roughly 1.9x sales. High Tide paid 2.5x less for a company with higher revenue. A call option on the remaining 49% is exercisable after 24 months at the same 3.64x EBITDA multiple.
What they got: One of Germany's largest medical cannabis importers — €70M annualized revenue, €15M EBITDA (21% margin), a 16% share of the German import market, and licenses to import from 19 countries.
Two court victories against competitors — including Vayamed, part of the Sanity Group — have further cemented Remexian's market position.
Part 1 everything else in the comments
