US (NJ): TerrAscend to acquire fourth dispensary

TerrAscend Corp is taking ownership of a fourth dispensary in New Jersey. Union Chill Cannabis Company is expected to be immediately accretive to TerrAscend on an EBITDA and cashflow basis, subject to regulatory approval.

"Union Chill is a strong performer, generating more than $11 million in annualized revenue from its location in Hunterdon County," said Jason Wild, Executive Chairman of TerrAscend. "We see a clear opportunity to enhance sales and margins by introducing our portfolio of premium brands, including Kind Tree, Legend, Valhalla, Cookies, and Wana. We are actively evaluating additional expansion opportunities in New Jersey and expect to sign multiple additional transactions by the end of 2025. We are also on track with the expansion of cultivation and manufacturing capacity at our Boonton facility, ensuring we can meet the increased demand from both the expansion in our retail footprint as well as our growing wholesale business."

Established in 2023, Union Chill is well situated with limited competition within a 10-mile radius. Upon closing of the transaction, Union Chill will increase TerrAscend's retail footprint to 39 dispensaries across five U.S. states and Canada.