TerrAscend Corp. has agreed to acquire Herbiculture Inc.’s cannabis dispensary in Burtonsville, Maryland, for $8.25 million, expanding the company’s retail footprint in the state to four outlets.
The deal has already been approved by the Maryland Cannabis Administration, the state’s chief regulator, and is expected to close in the coming days, according to a company news release.
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TerrAscend is based in Mississauga, Ontario, and does business in both the United States and Canada.
The retail acquisition is the company’s fourth in Maryland since late January, and gives TerrAscend a notable toehold in the nation’s newest recreational cannabis market.
It recently agreed to acquire Hempaid, a medical marijuana dispensary, which does business as Blue Ridge Wellness, for $6.75 million.
The Herbiculture acquisition is the latest in a slew of industry acquisitions leading up to Maryland’s July 1 launch of adult-use sales.
Under recently adopted rules, companies are prohibited
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