Alcohol stores and products are around the "normal" ranges. Generally this is a growth market in the US
Marijuana is often above the "normal" multiples because it is seen as high growth, but obviously high risk. Very low risk of rollback now
Tobacco use is a declining category in the US. Regulatory-wise it is stable
If you were comparing a nice liquor store (lets say 4x SDE with all the caveats), a nice MJ dispensary (>4x), what would a nice tobacco shop be?
Obviously there are tons of caveats and sub-segments exposures, but assuming the financials for each looked similar, would the tobacco shop be acquired at a similar valuation to the alcohol store?
Tobacco multiples
by a searcher from Harvard University - Harvard Business School
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