TerrAscend Expands Footprint with New Jersey Dispensary Acquisition
Deal News | May 06, 2025 | Globenewswire
TerrAscend Corp., a prominent North American cannabis company, has announced its strategic acquisition of Union Chill, a single dispensary operator in Hunterdon County, New Jersey, generating annualized revenues exceeding $11 million. This acquisition is projected to be immediately accretive to TerrAscend, enhancing both EBITDA and cash flow metrics, reinforcing its competitive position in the region. This expansion raises TerrAscend's retail operations to 39 dispensaries across five U.S. states and Canada. The growth strategy in New Jersey is further punctuated by plans to leverage its premium brand portfolio to boost sales margins. The completion of this transaction requires regulatory approval, and there's an ongoing evaluation of further expansion opportunities within New Jersey slated for the end of 2025. Despite federal legal challenges in the U.S. cannabis sector, compliance with state regulations remains integral to TerrAscend's operational strategy.
Sectors
- Cannabis Industry
- Retail Industry
Geography
- United States – The acquisition of Union Chill takes place in New Jersey, USA, and is central to TerrAscend's expansion plans within the country.
- Canada – TerrAscend is a TSX-listed company based in Canada and operates retail locations there as part of its broad North American strategy.
Industry
- Cannabis Industry – The article discusses TerrAscend, a company that operates within the cannabis sector, with a specific focus on expanding its dispensary operations.
- Retail Industry – TerrAscend is expanding its retail footprint across multiple states by acquiring Union Chill, indicating a strategic emphasis on retail distribution of cannabis products.
Financials
- $11 million – Annualized revenue generated by Union Chill, which is the target company in the acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| TerrAscend Corp. | Acquirer | Company | A leading North American cannabis company focused on cultivation, manufacturing, and retailing cannabis products. |
| Union Chill Cannabis Company LLC | Target company | Company | A single dispensary operator in Hunterdon County, New Jersey, known for generating over $11 million in annual revenue. |
| Jason Wild | Executive Chairman | Person | Executive Chairman at TerrAscend, responsible for strategic decisions including acquisitions. |