TerrAscend Corp., a fast-growing North American cannabis company, this week said it signed an agreement to buy Union Chill Cannabis Co., a single dispensary operator in Lambertville. Financial terms were not disclosed. The dispensary generates more than $11 million in annualized revenue, according to a press release from TerrAscend.
TerrAscend said Union Hill, founded in 2023, is “a high-performing, single dispensary operator in Hunterdon County, is expected to be immediately accretive to TerrAscend on an EBITDA and cash flow basis and further solidifies the company’s leadership position in the state.” The closing remains subject to regulatory approval.
TerrAscend’s other New Jersey locations are in Phillipsburg, Maplewood and Lodi.
“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.
TerrAscend said the company is evaluating additional expansion opportunities in New Jersey and expects to sign more transactions by the end of 2025.
Once the transaction closes, Union Chill will increase TerrAscend’s its dispensary number to 39 in five U.S. states and Canada.
