Hunterdon marijuana dispensary with $11M in annual sales is sold
LAMBERTVILLE – One of North America’s leading cannabis companies has acquired one of Hunterdon County’s three marijuana dispensaries.
TerrAscend announced Tuesday it has signed an agreement to acquire Union Chill Cannabis Company on North Union Street for an undisclosed amount.
“Union Chill is a strong performer, generating more than $11 million in annualized revenue from its location in Hunterdon County,” stated 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.”
The acquisition will mark the company’s fourth dispensary in New Jersey.
The other locations are in Phillipsburg, Maplewood and Lodi, which features the first drive-thru dispensary in New Jersey.
The company is also looking to add to its New Jersey operations.
“We are actively evaluating additional expansion opportunities in New Jersey and expect to sign multiple additional transactions by the end of 2025,” Wild tated. “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.”
The other Hunterdon County dispensaries are Baked in the River, also in Lambertville, and Aunt Mary’s in Flemington.
Upon closing of the transaction, Union Chill will increase TerrAscend’s retail presence to 39 dispensaries across five U.S. states and Canada.
Based in King of Prussia, Pa, TerrAscend recorded $306 million of revenue in 2024 with a gross profit of $150 million. Its stock is traded on the Toronto Stock Exchange.
Email: mdeak@MyCentralJersey.come