TerrAscend has announced the completion of its acquisition of Ratio Cannabis, a dispensary in Goshen Township, Ohio, marking the company’s entry into its sixth U.S. state. At the same time, the company revealed it has signed an agreement to acquire Union Chill, a single-dispensary operator in Hunterdon County, New Jersey.
The Ohio acquisition brings TerrAscend’s total number of dispensaries to 39 across six U.S. states and Canada. Ratio Cannabis, which currently operates with no competition within a 20-mile radius, generates approximately $9 million in annualized revenue. Executive Chairman Jason Wild called the move “a great first step in Ohio,” emphasizing the company’s intent to acquire additional dispensaries in the state, up to the eight-location cap.
TerrAscend’s planned acquisition in New Jersey is expected to further strengthen its presence in the state. Union Chill, established in 2023, is reported to generate more than $11 million in annualized revenue and operates in an area with limited nearby competition. TerrAscend expects the deal to be immediately accretive and says it will enhance performance at the location by offering its house brands, including Kind Tree, Legend, Valhalla, Cookies, and Wana.
In addition to retail growth, the company is also expanding its cultivation and manufacturing capabilities in Boonton, New Jersey, to meet increasing demand from its retail and wholesale channels. TerrAscend says it anticipates signing additional New Jersey transactions by the end of the year.
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