M&A Deal Summary

TerrAscend Acquires Peninsula Alternative Health

On June 8, 2023, TerrAscend acquired consumer products company Peninsula Alternative Health for 22M USD

Acquisition Highlights
  • This is TerrAscend’s 2nd transaction in the Consumer Products sector.
  • This is TerrAscend’s largest (disclosed) transaction.
  • This is TerrAscend’s 3rd transaction in the United States.
  • This is TerrAscend’s 1st transaction in Maryland.

M&A Deal Summary
Date 2023-06-08
Target Peninsula Alternative Health
Sector Consumer Products
Buyer(s) TerrAscend
Deal Type Add-on Acquisition
Deal Value 22M USD

Target

Peninsula Alternative Health

Salisbury, Maryland, United States
website
Peninsula Alternative Health is a medical cannabis dispensary that offers a diversity of products in Maryland. Peninsula Alternative Health is based in Salisbury, Maryland.

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Buyer(S) 1

Buyer

TerrAscend

Mississauga, Ontario, Canada

website

Category Company
Founded 2017
Sector Consumer Products
Employees101
Revenue 210M USD (2021)
DESCRIPTION

TerrAscend provides quality products, brands, and services to the global cannabinoid market. TerrAscend operates a number of synergistic businesses, including The Apothecarium, cannabis dispensary with several retail locations in California and Nevada; Arise Bioscience Inc., a manufacturer and distributor of hemp-derived products; Ascendant Laboratories Inc., a biotechnology and licensing company committed to the continuous improvement of cannabinoid expressing plants; Solace RX Inc., a proposed Drug Preparation Premises (DPP) focused on the development of novel formulations and delivery forms; and Valhalla Confections, a manufacturer of premium cannabis-infused edibles. TerrAscend was founded in 2017 and is based in Mississauga, Ontario.

DEAL STATS #
Overall 3 of 5
Sector (Consumer Products) 2 of 3
Type (Add-on Acquisition) 3 of 5
State (Maryland) 1 of 3
Country (United States) 3 of 5
Year (2023) 1 of 3
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-28 State Flower Brand

San Francisco, California, United States

ABI SF LLC operates through State Flower brand which provides ultra-premium cannabis flower and is currently sold through dispensaries in California and Nevada, including The Apothecarium.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-27 Blue Ridge Wellness

Parkville, Maryland, United States

Blue Ridge Wellness is a medical dispensary that offers a complete selection of its brands including Kind Tree, Gage, Cookies, and Wana. Blue Ridge is based in Parkville, Maryland.

Buy $7M
Mergr

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