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TerrAscend Closes Previously Announced Acquisition of Keystone Canna Remedies
TerrAscend Closes Previously Announced Acquisition of Keystone Canna Remedies C...
About this update from Terrascend Corp.
[{"type":"text","content":"\n \n \n \n TerrAscend Closes Previously Announced Acquisition of Keystone Canna Remedies\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 Acquires Three Operating Dispensaries in\n \n Northeast Pennsylvania\n \n \n \n \n \n Purchase Price Represents a Mid-Single Digit Multiple of KCR's Expected 2021 EBITDA\n \n \n \n \n NEW YORK\n \n and\n \n TORONTO\n \n ,\n \n May 3, 2021\n \n /CNW/ - TerrAscend Corp. (\"TerrAscend\" or the \"Company\") (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today reported it has closed the previously announced acquisition of GuadCo, LLC and KCR Holdings LLC (collectively \"KCR\") for an implied enterprise value of\n \n US$70 million\n \n (the \"transaction\"). The transaction adds three retail dispensaries located in\n \n Bethlehem\n \n ,\n \n Allentown\n \n and\n \n Stroudsburg\n \n to complement the Company's existing retail footprint in\n \n Southeastern Pennsylvania\n \n .\n \n \n As an operator of three well managed dispensaries in the Northeast region, KCR expands TerrAscend's retail footprint, diversifies the Company's customer base and enhances margins through deeper vertical integration of its market leading brands Kind Tree, Ilera, and Prism.\n \n \n \"With the closing of this acquisition, TerrAscend doubles our owned footprint to six dispensaries and further solidifies our leadership position as a branded manufacturer in\n \n Pennsylvania\n \n , where we distribute our products to 100% of the dispensaries in the Commonwealth,\" said\n \n Jason Wild\n \n , Executive Chairman of TerrAscend.\n \n \n \n Transaction Details\n \n \n TerrAscend previously owned 10% of KCR and has acquired the remaining 90% of the equity for total consideration of\n \n $63 million\n \n , comprised of\n \n $36 million\n \n in stock,\n \n $20.25 million\n \n in cash and a\n \n $6.75 million\n \n note. The purchase price is expected to represent a mid-single digit multiple of KCR's 2021 EBITDA.\n \n \n \n \n The Canadian Securities Exchange (\"CSE\") has neith...