Green Acre Capital Invests in The Friendly Stranger for Cannabis Retail Expansion Plan
TORONTO, Oct. 17, 2018 /CNW/ - Green Acre Capital ("GAC") announced today the first investment from its Fund II, a private investment fund focused on the medical and recreational cannabis industry. GAC will commit $10 million into a partnership with Toronto's The Friendly Stranger to allow for an aggressive cannabis retail expansion plan, leveraging the brand equity of the longstanding Queen Street West Cannabis Culture Shop. The infusion of GAC funds will help bring dozens of The Friendly Stranger cannabis retail stores to the Canadian market, with an initial focus on Ontario. The stores will carry a wide range of cannabis products, as well as a vast selection of high-quality accessories the brand is currently known for.
"We are thrilled to be partnering with Robin and Joy and the executive team behind The Friendly Stranger, who are true pioneers in the industry and bring nearly 25 years of experience to our partnership. With the investment and managerial support from GAC, we believe The Friendly Stranger is positioned to become one of the largest independent cannabis retailers in Ontario, with plans to expand elsewhere in Canada in the coming years," said GAC Managing Director, Matt Shalhoub.
"We were approached by several groups that were looking to help us expand into cannabis retail, but were impressed by Green Acre Capital's team, track record, and their commitment to maintaining the essence of The Friendly Stranger, including our deep connections to the cannabis culture and community. With the financial and managerial support of this partnership we will be able to expand The Friendly Stranger in a way that maintains our authenticity," said Robin Ellins, co-founder of The Friendly Stranger.
About Green Acre Capital
Green Acre Capital is a Toronto and Calgary based private investment fund focused on the global medical and recreational cannabis industry. The fund invests in many sectors of the cannabis value chain, with a preference for non-cultivation opportunities. The Fund's goal is to create an ecosystem within portfolio investments that will help fuel growth and innovation in the cannabis industry. Visit: www.greenacrecapital.ca.
About The Friendly Stranger:
Established in 1994, The Friendly Stranger is Canada's most iconic Cannabis culture shop and is widely revered for its friendly and knowledgeable service. Located at 241 Queen Street West in Toronto, Canada, the 3,000 square foot shop caters to cannabis connoisseurs from around the world, offering a curated supply of cannabis products and accessories. Co-founded by Robin Ellins and Joy Jacobsen, The Friendly Stranger has been at the forefront of the fight to decriminalize cannabis. www.friendlystranger.com Instagram: @the_friendly_stranger Twitter: @cannabis_shop Facebook: Friendlystranger
SOURCE Green Acre Capital
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