TerrAscend Expands New Jersey Presence with Acquisition of Union Chill Dispensary

LOS ANGELES- TerrAscend Corp., a North American cannabis operator, has entered into an agreement to acquire Union Chill Cannabis Company LLC, a single-location dispensary in Hunterdon County, New Jersey. This acquisition marks TerrAscend’s fourth dispensary in the state and expands its retail footprint to 39 locations across five U.S. states and Canada.

Union Chill, established in 2023, reported over $11 million in annualized revenue. The dispensary operates in an area with limited competition within a 10-mile radius. TerrAscend anticipates that the acquisition will be immediately accretive to its EBITDA and cash flow, subject to regulatory approval.

Jason Wild, Executive Chairman of TerrAscend, stated that the company plans to introduce its portfolio of brands, including Kind Tree, Legend, Valhalla, Cookies, and Wana, to the Union Chill location. Additionally, TerrAscend is expanding its cultivation and manufacturing capacity at its Boonton facility to meet increased demand from both retail and wholesale operations.

The acquisition aligns with TerrAscend’s strategy to strengthen its position in the New Jersey cannabis market. The company has indicated plans to pursue additional expansion opportunities in the state by the end of 2025.

Union Chill has been recognized for its community engagement, including educational initiatives and partnerships with local organizations. Following the passing of co-founder and CEO Laurie McHugh in 2023, the dispensary established a scholarship in her name to support students pursuing careers in the cannabis industry.