Canopy Rivers-backed TerrAscend to acquire Ilera Healthcare
TerrAscend Corp has agreed to acquire Ilera Healthcare, a Plymouth Meeting, Pennsylvania-based medical cannabis cultivator, processor and dispensary operator. In a separate release, TerrAscend, a Toronto-based cannabis business, said the total consideration of the cash-and-stock deal is between US$125 million and US$225 million. It is targeted to close in Q4 2019. In May, TerrAscend completed a private placement, raising about $70 million (US$52 million). The proceeds were intended in part to back the company's U.S. acquisition strategy. TerrAscend is a portfolio company of Canopy Rivers, the venture capital arm of Canadian cannabis producer Canopy Growth Corp.
6 August 2019•3 mins read
