TerrAscend Closes Acquisition of Aunt Mary’s in NJ

TORONTO – TRENTON – TerrAscend Corp. confirmed it has closed its previously announced transaction with Aunt Mary’s Dispensary LLC, a Cannabis retail operation in Hunterdon County, NJ. The deal marks the company’s fifth retail location in the Garden State.

The transaction was first signed in June and structured at a total consideration of $9 million. The deal consists of a $3 million five-year unsecured convertible debenture bearing 6% annual interest, granting an option to purchase 35% of Aunt Mary’s, plus $6 million in cash payable upon exercise of that option. The arrangement complies with New Jersey’s regulatory framework, which accommodates investment in diversely owned Cannabis businesses.

“Aunt Mary’s generates more than $10 million in annualized revenue today, and we see meaningful opportunities to enhance sales and profitability through the integration of our premium brand portfolio. “We are excited to welcome the Aunt Mary’s team to the TerrAscend family”, said Jason Wild, Executive Chairman of TerrAscend, in the official press release.

The acquisition will be immediately accretive to TerrAscend on an EBITDA and free cash flow basis. Upon full consolidation, TerrAscend’s network will reach 21 dispensaries spanning five U.S. states and Canada.

This closing follows TerrAscend’s December 2025 acquisition of Union Chill Cannabis Company LLC in Lambertville, also situated in Hunterdon County, which had brought the company to four New Jersey stores, with additional locations in Phillipsburg, Maplewood, and Lodi. With Aunt Mary’s now in the fold, TerrAscend holds two dispensaries within the same county, added nine months apart.

TerrAscend, which has been operating in New Jersey since adult-use sales launched in April 2022, also runs a 150,000-square-foot cultivation and processing facility in Boonton, producing for its retail network under brands including Kind Tree and The Apothecarium.

TerrAscend’s back-to-back acquisitions in Hunterdon County indicate the company sees durable retail demand in that corridor, and trusts its brand integration playbook enough to double down in a single county. The deal structure, using convertible debt to secure an initial stake before a cash-funded path to full ownership, reflects the pragmatic approach operators have refined to get through state-regulated M&A without getting stuck in regulatory queues. For investors tracking TerrAscend’s profitability arc, Aunt Mary’s is a clean addition: a cash-generating store acquired at a reasonable entry price, with no operational turnaround required. Just execution on integration.