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Benzinga
Benzinga
Business
Nicolás Jose Rodriguez

TerrAscend Accelerates Michigan Retail Expansion Through Acquisition of Pinnacle

TerrAscend Pinnacle Michigan Cookies CSE TerrAscend Corp Gage Jason Wild

TerrAscend Corp. (CSE:TER)(OTCQX:TRSSF), a leading North American cannabis operator has entered into a definitive agreement to acquire KISA Enterprises MI, LLC and KISA Holdings, LLC ("A.k.a. Pinnacle"), a dispensary operator in Michigan, and related real estate, for $28.5 million.

“The Transaction is expected to be immediately accretive to TerrAscend on both Sales and EBITDA basis,” noted TerrAscend in a press release. “Following the close of the transaction, TerrAscend's retail footprint will increase to 17 dispensaries in Michigan and 32 dispensaries nationwide.”

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