TerrAscend Corp., a prominent player in the North American cannabis sector, has finalized its acquisition of Ratio Cannabis LLC, a dispensary located in Goshen Township, Ohio. This transaction marks TerrAscend’s entry into Ohio, making it the company’s sixth state of operation.
The acquisition is anticipated to positively impact TerrAscend’s earnings before interest, taxes, depreciation, and amortization (EBITDA) and its cash flow from the outset. Following this acquisition, TerrAscend’s retail presence now includes 39 dispensaries spread across six U.S. states and Canada.
Jason Wild, Executive Chairman of TerrAscend, highlighted the strong performance of Ratio Cannabis, noting the absence of competition within a 20-mile radius and the dispensary’s annual revenue of $9 million. Wild emphasized that penetrating the Ohio market has been a strategic priority for TerrAscend. He stated, “This acquisition is a great first step in Ohio, and we will continue to aggressively pursue additional accretive dispensary acquisitions, up to the eight-dispensary state limit.”
With plans to acquire more dispensaries in Ohio in the near future, TerrAscend aims to strengthen its position in this emerging market and capitalize on growth opportunities available within the state’s cannabis industry.
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