TerrAscend Expands Into Ohio With Dispensary Acquisition
Deal News | May 07, 2025 | Globenewswire
TerrAscend Corp. has completed the acquisition of Ratio Cannabis LLC, marking its entry into Ohio – its sixth U.S. state. The acquisition is immediately accretive to both EBITDA and cashflow, enhancing TerrAscend's position in the North American cannabis retail market and expanding its footprint to 39 dispensaries. This entry into Ohio, facilitated by Ratio’s strong market position with minimal competition, fulfills a strategic priority for TerrAscend. With annualized revenues of $9 million from Ratio Cannabis, TerrAscend plans to expand further in Ohio's market up to the eight dispensary limit. However, they face significant legal risks from federal cannabis laws affecting their U.S. operations, with forward-looking statements indicating potential future growth is fraught with uncertainties including regulatory challenges. The company emphasizes adherence to state laws but acknowledges potential federal legal risks, affecting them economically and operationally.
Sectors
- Cannabis
- Retail
- Pharmaceuticals & Biotechnology
Geography
- United States – The acquisition of Ratio Cannabis LLC by TerrAscend marks its entry into a new U.S. state, illustrating its operations and expansion within the country.
- Canada – TerrAscend is a TSX-listed company based in Toronto, Canada, indicating its primary market presence and organizational roots are Canadian.
Industry
- Cannabis – The article centers around TerrAscend, a cannabis company, acquiring another cannabis dispensary in Ohio, which is a part of the cannabis industry.
- Retail – TerrAscend's retail expansion into Ohio's cannabis market increases its number of outlets, relevant to the retail sector.
- Pharmaceuticals & Biotechnology – Due to the regulated nature of cannabis and its uses in both medical and recreational capacities, this industry is also applicable.
Financials
- $9 million – Annualized revenue generated by Ratio Cannabis LLC, the acquired dispensary.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| TerrAscend Corp. | Acquiring Company | Company | A leading North American cannabis company with extensive operations and retail presence across the U.S. and Canada. |
| Ratio Cannabis LLC | Target Company | Company | A cannabis dispensary located in Ohio, which has been acquired by TerrAscend. |
| Jason Wild | Executive Chairman | Person | Executive Chairman of TerrAscend Corp., involved in the strategic expansion of the company into Ohio. |
| Keith Stauffer | Chief Financial Officer | Person | CFO of TerrAscend Corp., responsible for overseeing financial operations. |
| KCSA Strategic Communications | Investor Relations | Company | The firm managing investor communications and public relations for TerrAscend. |