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TerrAscend Closes Acquisition of Pinnacle
TerrAscend Closes Acquisition of Pinnacle Canada NewsWire Accretive A...
About this update from Terrascend Corp.
[{"type":"text","content":"\n \n \n \n TerrAscend Closes Acquisition of Pinnacle\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Accretive Acquisition of Five High-Performing Dispensaries Expands TerrAscend's Retail Footprint to 17 in\n \n Michigan\n \n and 32 Nationwide\n \n \n \n \n \n DETROIT\n \n and\n \n TORONTO\n \n \n ,\n \n \n Aug. 24, 2022\n \n \n /CNW/ -\n \n \n TerrAscend Corp.\n \n \n (\"TerrAscend\" or the \"Company\") (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced that it has completed the\n \n \n previously announced\n \n \n acquisition of KISA Enterprises MI, LLC (\"Pinnacle\"), a dispensary chain operator in\n \n Michigan\n \n , and related real estate assets from KISA Holdings, LLC, for total consideration of\n \n US$28.5 million\n \n . The acquisition is immediately accretive to TerrAscend on both a Sales and EBITDA basis.\n \n \n The acquisition includes six dispensary licenses, five of which are currently operational and located in the cities of\n \n Addison\n \n ,\n \n Buchanan\n \n ,\n \n Camden\n \n ,\n \n Edmore\n \n , and\n \n Morenci\n \n . The addition of Pinnacle expands TerrAscend's retail footprint to 17 in\n \n Michigan\n \n and 32 nationwide.\n \n \n \"We are excited to strengthen our\n \n Michigan\n \n footprint with the acquisition of Pinnacle,\" said\n \n Jason Wild\n \n , Executive Chairman of TerrAscend. \"This acquisition strategically expands our presence along\n \n Michigan's\n \n border, to areas that previously had limited access to Gage and Cookies branded retail locations and products. We look forward to introducing our premier brands to new customers and solidifying our position as a top-tier retailer in the state, while continuing to scale and improve margins and profitability.\"\n \n \n The Company intends to rebrand each of the newly acquired dispensaries under either the Gage or Cookies retail brand. Each dispensary will carry the entire selection of Cookies and Gage branded products including, but not limited to Cookies, Lemon...