MSO TerrAscend acquires marijuana stores in Ohio, New Jersey
TerrAscend Corp. has closed on its acquisition of Ohio retailer Ratio Cannabis for $10.3 million, marking the marijuana multistate operator ’s entry into its sixth state.
The previously announced acquisition increases TerrAscend’s retail footprint to 39 states in six states and Canada, according to a company news release.
TerrAscend, which has offices in Toronto and King of Prussia, Pennsylvania, plans to acquire additional outlets in Ohio.
“Entering Ohio has long been a priority for us,” TerrAscend Executive Chair Jason Wild said in a statement about acquiring the store in Goshen Township, a Cincinnati suburb.
“This acquisition is a great first step in Ohio, and we will continue to aggressively pursue additional accretive dispensary acquisitions up to the eight-dispensary state limit.”
TerrAscend has been on an acquisition spree.
Earlier this month, the MSO signed an agreement to acquire Union Chill Cannabis Co., its fourth New Jersey store.
The outlet, located in Hunterdon County near Lambertville, generates more than $11 million in annualized revenue, according to a separate release.
Meanwhile, TerrAscend last week reported first-quarter net revenue of $71 million, down 4.5% from $74.4 million in the fourth quarter of 2024.
The company’s shares trade on the Toronto Stock Exchange as TSND.
