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TerrAscend Closes on Ohio Dispensary Acquisition
Globenewswire· 2025-05-07 14:00
Group 1 - TerrAscend Corp. has completed the acquisition of Ratio Cannabis LLC, marking its entry into Ohio and expanding its retail presence to 39 dispensaries across six U.S. states and Canada [1][2] - The acquisition is expected to be immediately accretive on an EBITDA and cash flow basis, with Ratio Cannabis generating $9 million in annualized revenue and having no competition within a 20-mile radius [1][2] - The company plans to pursue additional dispensary acquisitions in Ohio, aiming to reach the state limit of eight dispensaries [2] Group 2 - TerrAscend is a leading cannabis company listed on the TSX, with operations in Pennsylvania, New Jersey, Maryland, Michigan, and California, as well as retail operations in Canada [2] - The company operates various brands and dispensaries, including The Apothecarium and Gage, and has a focus on high-quality cannabis cultivation and manufacturing [2]
TerrAscend Signs Agreement to Acquire Fourth Dispensary in New Jersey
Globenewswire· 2025-05-06 14:00
Company Overview - TerrAscend Corp. is a leading North American cannabis company with operations in Pennsylvania, New Jersey, Maryland, Michigan, and California, as well as retail operations in Canada [3] - The company operates various dispensary retail locations and has scaled cultivation, processing, and manufacturing facilities in its core markets [3] - TerrAscend owns or licenses several brands including Gage Cannabis, The Apothecarium, Cookies, and Wana [3] Recent Acquisition - TerrAscend has signed an agreement to operate its fourth dispensary in New Jersey through the acquisition of Union Chill Cannabis Company LLC, which generates over $11 million in annualized revenue [1][2] - The acquisition is expected to be immediately accretive to TerrAscend on an EBITDA and cash flow basis, further solidifying the company's leadership position in New Jersey [1][2] - Upon closing, Union Chill will increase TerrAscend's retail footprint to 39 dispensaries across five U.S. states and Canada [2] Growth Strategy - The company plans to enhance sales and margins by introducing its portfolio of premium brands at the new dispensary [2] - TerrAscend is actively evaluating additional expansion opportunities in New Jersey and expects to sign multiple transactions by the end of 2025 [2] - The company is also on track with the expansion of cultivation and manufacturing capacity at its Boonton facility to meet increased demand [2]
Planet 13 Opens 33rd Florida Dispensary in Edgewater, Just South of Daytona Beach
Globenewswire· 2025-04-30 10:30
Core Viewpoint - Planet 13 Holdings Inc. is expanding its footprint in Florida with the grand opening of its 33rd dispensary in the state, located in Edgewater, which is expected to serve the growing medical cannabis community in East Central Florida [1][2]. Company Expansion - The new dispensary, Planet 13 Edgewater, will open on May 31, 2025, and spans 3,000 square feet, strategically located on U.S. Highway 1, a major retail corridor [1][2]. - This location is expected to benefit from high daily vehicle counts and steady foot traffic due to its placement in a fully leased, dual-tenant property alongside Taco Bell [2]. Market Positioning - The company aims to provide high-quality cannabis products and a best-in-class retail experience for the medical cannabis community across Volusia County and surrounding metropolitan areas [2]. - With a growing local population and increasing demand for retail and medical cannabis access, the Edgewater location is well-positioned for sustained growth [2]. Company Overview - Planet 13 is a vertically integrated cannabis company with operations in California, Nevada, Illinois, and Florida, and is known for its award-winning cultivation, production, and dispensary operations [4]. - The company operates a total of 37 dispensaries nationwide, with 33 located in Florida, highlighting its significant presence in this key market [4].