Three Canadian marijuana companies have once again been named to the Globe & Mail’s Report on Business list of Canada’s Top Growing Companies.
Now in its seventh year, the ranking highlights 400 private and public companies across the country, based on three-year revenue growth.
Ayurcann Holdings Corp., a licensed post-harvest producer based in Pickering, Ontario, made its first appearance at 67th with three-year revenue growth of 499%. The company reported 2024 revenue between $25 million and $50 million and employs 50 people. Ayurcann operates a 13,585-square-foot extraction and manufacturing facility and sells marijuana under brands such as Fuego, XPLOR, Happy and Stoned in BC, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick and Yukon.
Kelowna-based Avant Brands Inc. placed 138th, marking its third year on the list. The company posted three-year growth of 263%, with 2024 revenue between $25 million and $50 million and 200 employees. Avant operates multiple cultivation facilities across Canada and sells recreational products under brands like BLK MKT, Tenzo, Cognōscente, Treehugger and Pristine Seeds. Its products are distributed domestically across most provinces and territories, as well as internationally to Israel, Australia and Germany.
The third cannabis business to make the list is High Tide Inc., the Calgary company behind the Canna Cabana retail chain. The company ranked 182nd with three-year revenue growth of 188%. With revenue between $500 million and $750 million, this marks its fifth year making the list. High Tide also owns subsidiaries such as Valiant Distribution, Grasscity, META Growth, Jimmy’s Cannabis Shop, and Queen of Bud, and it recently acquired a majority stake in German pharmaceutical importer Remexian.
Past lists have featured other major Canadian marijuana companies including SNDL, Pure Sunfarms, Delta 9 and Cronos Group. High Tide and Avant have each appeared multiple years, reflecting their sustained growth within Canada’s competitive marijuana industry.
The Globe and Mail launched the program in 2019.
