Canada’s TerrAscend looks to snap up US marijuana firm Ilera for up to $225 million

TerrAscend, an Ontario, Canada-based vertically integrated cannabis company, agreed to acquire Ilera Healthcare, a Pennsylvania-based marijuana cultivator, processor and dispensary operator for up to $225 million (CA$297 million).

The total cost of the transaction will depend on Ilera reaching certain revenue and profitability targets.

For now, TerrAscend is set to pay $25 million in cash and $25 million in stock with an additional $175 million to be paid in cash depending on the Ilera targets being met.

Here’s some information surrounding the deal:

  • Ilera operates a dispensary in Plymouth Meeting, Pennsylvania, with plans to open two more dispensaries in the state by the end of this year.
  • The company also has a cultivation, extraction and processing facility in Waterfall in the state and distributes its products to 50 of the state’s 52 dispensaries.
  • The transaction is expected to close in the fourth quarter of 2019.

TerrAscend, which trades on the Canadian Securities Exchange as TER, reported revenues of CA$14.6 million ($10.95 million) for the quarter ended March 31, 2019, with a net loss of CA$11.2 million.

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2 comments on “Canada’s TerrAscend looks to snap up US marijuana firm Ilera for up to $225 million
  1. Maxcatski on

    TerrAscend should be delisted from the Canadian exchange for illegal activity.

    Ilera is an illegal entity by US federal standards. We need to do better in Canada.

    Reply
    • Pot Man on

      Illera is a legal entity under PA law. Much the same way $3B worth of businesses are legal under their respective state laws. Has there been any federal prosecution in the last 8 years for such businesses? NADA, ZERO, ZILCH, BUMPKISS.

      Go peddle your short somewhere else.

      Reply

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