After closing its $545-million acquisition of Gage Growth Corp. this week, TerrAscend is keeping its collective eye on the horizon. Executive chairman Jason Wild told Marketwatch that his company is planning to be on the ground in more states, likely along the East Coast and Mid-Atlantic by year’s end.
Right now, with the Michigan-based Gage assets in its portfolio, TerrAscend boasts 25 dispensaries in five states (California, Michigan, Maryland, New Jersey and Pennsylvania).
“From a merger and acquisition perspective, we’re looking to go deeper into states where we are, and we want to add one to two additional states over the next six to 12 months,” Wild told the news outlet. “We’re looking at Michigan east toward the East Coast, and up and down the East Coast from Massachusetts to Georgia.”
The notable headline only solidifies TerrAscend’s intentional growth strategy after the Gage closing. That transaction saw two large vertically integrated businesses coming together, each bringing a focus on brand-building and retail to the table.
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"This is a defining moment for TerrAscend as we combine two leading vertically integrated operators with proven cultivation and manufacturing expertise, deep portfolios of proprietary flower strains, and top-selling brands across our core markets," Wild said upon the Gage deal’s closing.
