TerrAscend Corp., a leading North American cannabis company, announced that its consolidated entities have closed on the previously announced transaction of Union Chill Cannabis Company LLC, a high-performing dispensary in Lambertville.
The transaction expands TerrAscend’s retail footprint to four dispensaries in New Jersey and is expected to be immediately accretive to EBITDA and cash flow.
Its other N.J. locations are in Phillipsburg, Maplewood and Lodi.
In May 2025, TerrAscend signed an agreement with Union Chill for a total consideration of $13 million, consisting of $9 million in the form of convertible notes bearing interest at 6.5% and an option to purchase 35% of Union Chill, as well as $4 million in cash upon exercise of the option.
“Union Chill will strengthen our leadership position in New Jersey with the addition of a high-performing dispensary strategically located in Hunterdon County,” said Jason Wild, executive chairman of TerrAscend.
“This dispensary is well-situated with limited competition within a 10-mile radius and is currently generating over $11 million in annualized revenue. With the integration of our premium brand portfolio, we expect to drive increased sales, margins and long-term value.”
The transaction conforms to New Jersey’s regulatory framework, which facilitates investment opportunities for diversely owned businesses.
Upon exercise of the option and additional conditions, the transaction will allow the company to fully consolidate the business in its financial results and increase TerrAscend’s consolidated retail footprint to a total of 20 dispensaries across five U.S. states and Canada.
