TerrAscend Acquires Fifth New Jersey Dispensary in Hunterdon County
TerrAscend expands its New Jersey footprint by signing a deal to acquire Aunt Mary's, a top-performing dispensary generating over $10M annually.
Cannabis multistate operator TerrAscend has signed an agreement to acquire Aunt Mary's dispensary in Hunterdon County, New Jersey, marking the company's fifth retail location in the state. The move signals continued consolidation in New Jersey's rapidly growing legal cannabis market as established operators compete for premium retail assets.
Aunt Mary's stands out as a high-performing operation, posting more than $10 million in annualized revenue — a figure that underscores the dispensary's strong local customer base in Hunterdon County. For TerrAscend, adding a proven revenue-generating asset reduces the typical ramp-up risk associated with opening new greenfield locations.
New Jersey legalized adult-use cannabis in 2021 and has since emerged as one of the most competitive and lucrative cannabis markets on the East Coast. TerrAscend's strategic push to lock in five dispensary licenses positions the company among the more entrenched retail players in the state, where license scarcity continues to drive acquisition premiums.
The acquisition reflects a broader industry trend of well-capitalized multistate operators absorbing independent dispensaries that have already proven their market viability. With an established revenue base and an existing Hunterdon County customer following, Aunt Mary's gives TerrAscend immediate market presence in a county it had not previously served.
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