TORONTO — TerrAscend Corp., a leading North American cannabis company, signed an agreement where its consolidated entities will operate a fourth dispensary in New Jersey. Union Chill Cannabis Company LLC, a high-performing, single dispensary operator in Hunterdon County, is expected to be immediately accretive to TerrAscend on an EBITDA and cashflow basis and further solidifies the Company’s leadership position in the state. The closing remains 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.
About TerrAscend
TerrAscend is a leading TSX-listed cannabis company with interests across the North American cannabis sector, including vertically integrated operations in Pennsylvania, New Jersey, Maryland, Michigan, and California through TerrAscend Growth Corp. and retail operations in Canada through TerrAscend Canada Inc. TerrAscend operates The Apothecarium, Gage, and other dispensary retail locations as well as scaled cultivation, processing, and manufacturing facilities in its core markets. The Company owns or licenses several synergistic businesses and brands including Gage Cannabis, The Apothecarium, Cookies, Lemonnade, Ilera Healthcare, Kind Tree, Legend, State Flower, Wana, and Valhalla Confections.
