Multistate operator TerrAscend has acquired Lambertville-based Union Chill Cannabis Co.
The Toronto-headquartered cannabis giant said it finalized a deal to acquire the North Union Street recreational dispensary in a Dec. 30, 2025, press release.
The agreement was first announced in May 2025. Under the terms, TerrAscend committed a total of $13 million to Union Chill. That figure includes a $9 million interest-bearing convertible loan that provides the option to purchase a 35% stake in the company, as well as an additional $4 million in cash if TerrAscend exercises the option.
Upon closing of the transaction, TerrAscend’s retail footprint now spans 20 dispensaries across five U.S. states and Canada. It also has scaled cultivation, processing and manufacturing facilities in its core markets.
Within New Jersey, TerrAscend runs The Apothecarium dispensaries in Lodi, Maplewood and Phillipsburg.
Jason Wild is executive chairman for TerrAscend. In a statement, he said, “Union Chill will strengthen our leadership position in New Jersey with the addition of a high-performing dispensary strategically located in Hunterdon County.”
Wild went on to add, “This dispensary is well situated with limited competition within a 10-mile radius and is currently generating over $11 million in annualized revenue. With the integration of our premium brand portfolio, we expect to drive increased sales, margins and long-term value.”
Union Chill launched in June 2023 as the first dispensary in Lambertville. After, the shop became known for its high-quality cannabis products and education-focused service on the plant’s benefits. It also offers a selection of arts, crafts and other goods from local vendors.
The majority women-owned and socially responsible venture’s grand opening came just two months before co-founder and CEO Laurie McHugh died in a car crash.
