Cannabis MSO TerrAscend continues Michigan acquisition spree

Multistate cannabis operator TerrAscend is increasing its footprint in Michigan through a $28.5 million deal to acquire a six-store chain that will expand its operations in the state to 17 medical and adult-use marijuana outlets.

The cash-and-stock agreement calls for TerrAscend, which has offices in New York and Toronto, to buy Kisa Enterprises and Kisa Holdings, according to a news release.

The company’s stores will be rebranded as either Gage or Cookies entities, depending on the location.

TerrAscend made its first jump into the Michigan market last year, when it spent $545 million in stock to acquire Gage Cannabis.

The acquisition gives TerrAscend a leading position in one of the most promising markets in the U.S., TerrAscend Executive Chair Jason Wild said.

Michigan is a key market for us,” he said in a statement.

“This acquisition exemplifies our strategy of building depth to solidify our retail leadership while expanding profitability and scale in the state.”

Expert advice for a stronger shelf life

Learn the fundamentals for getting started in cannabis retail in this comprehensive guide curated by the editors at MJBizDaily with help from industry experts.

Inside the MJBizDaily Retail Buyers Guide:
  • Learn best practices for designing a cannabis dispensary.
  • Select display infrastructure that supports industry compliance.
  • Choose the right point-of-sale system for your operation.
  • How to incorporate e-commerce and home delivery.
  • And more!


Recreational marijuana sales in Michigan this year will total $1.4 billion-$1.7 billion, according to the 2022 MJBiz Factbook.

TerrAscend, which also operates in California, Maryland, New Jersey and Pennsylvania, trades as TER on the Canadian Securities Exchange and TRSSF on the U.S. over-the-counter markets.