TerrAscend formed a partnership with Cookies in New Jersey and will exclusively bring the brand’s products to the Garden State. The deal came about through Gage Growth, the exclusive Cookies processor in Michigan.
Cookies products are not available in New York or Pennsylvania, though TerrAscend is ideally positioned to attract consumers who want the brand.
The company has two dispensaries within about 20 minutes from Manhattan and another dispensary just across the border from Pennsylvania.
TerrAscend, expected to close on the Gage Growth deal early next year, views Gage as a proven asset and has said it could buy more dispensaries and add them to its vertically integrated platform.
Meanwhile, TerrAscend's priority remains to go deeper into its existing states in that it cannot buy more dispensaries in New Jersey, which has a three-store limit.
But, it can acquire more retail locations in Pennsylvania, which has an 18-store cap, reported New Cannabis Ventures.
TRSSF traded 0.33% higher, at $6.12 per share, at the time of this writing Wednesday afternoon.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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