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TerrAscend to acquire Grander in $13M deal to enter US cannabis market

TerrAscend Corp. will acquire Grander Distribution LLC in a $13 million cash and stock deal to enter the U.S. cannabis market.

Grander produces and distributes hemp-derived wellness products in the U.S. with $10 million in expected sales for 2018.

Canadian medical cannabis company TerrAscend said Grander can also receive up to an additional $10 million based on revenue targets.

Earlier in December, TerrAscend had completed a capital reorganization as a part of its U.S. expansion strategy.

The transaction is expected to close by Jan. 15, 2019, subject to customary closing conditions.