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TerrAscend spends $11.7M for Md. medical dispensary
//April 11, 2022
TerrAscend Corp., a North American cannabis operator, Monday announced it has entered into a definitive agreement to acquire Allegany Medical Marijuana Dispensary, a medical dispensary in Cumberland from Moose Curve Holdings LLC, for a total deal of 11.7 million.
Under the terms of the agreement, TerrAscend will acquire 100% equity interest in AMMD for $10 million in cash, in addition to acquiring the real estate for $1.7 million. The Transaction is subject to customary closing conditions and regulatory approvals.
Located near interstate 68 and close to the West Virginia and Pennsylvania borders at 100 Beall St., AMMD has built a strong and loyal customer base in northwest Maryland. TerrAscend expects to rebrand the 8,000 square foot dispensary as The Apothecarium, the company’s award-winning retail dispensary concept. In addition, TerrAscend will be supplying the dispensary with its own high-quality branded products, including Gage, Kind Tree and Valhalla edibles, subject to regulatory approval.
Following the close of the transaction, TerrAscend’s retail footprint will increase to 27 dispensaries nationwide.
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