Sndl Inc. SNDL

What this company does

The company's principal activities are the retailing of wines, beers and spirits under the Wine and Beyond, Ace Liquor and Liquor Depot retail banners, the operation and support of corporate owned, controlled and franchised retail cannabis stores under the Value Buds and Spiritleaf retail banners, the manufacturing, production, distribution and sale of cannabis in Canada and for export under an owned and licensed cannabis brand portfolio, and the provision of financial services through the deployment of capital to direct and indirect investments and partnerships throughout the cannabis industry. As of December 31, 2025, the company and its subsidiaries collectively employed 2,751 employees. Its reportable segments are organized by business line and comprised of four reportable segments: liquor retail, cannabis retail, cannabis operations, and investments. In the liquor retail segment, its revenue from liquor sales to retail customers was $539.6 million for the year ended December 31, 2025 and $555.3 million for the year ended December 31, 2024. In the cannabis retail segment, its revenue from cannabis sales to retail customers was $308.7 million for the year ended December 31, 2025 and $290.4 million for the year ended December 31, 2024. In the cannabis operations segment, SNDL is headquartered in Edmonton, Alberta, with cannabis processing operations in Kelowna, British Columbia, Bolton, Ontario, London, Ontario and Atholville, New Brunswick. In the investments segment, SunStream is a joint venture in which the company holds a 50% ownership interest and provides growth capital pursuing indirect investment and financial services opportunities in the global cannabis sector.

Written from the business description in SNDL Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 12 March 2026. Every sentence was checked against that document before publication.