Cannabis company TerrAscend Corp. is set to acquire Plymouth Meeting’s Ilera Healthcare, one of five vertically-integrated cannabis cultivator, processor and dispensary operators in Pennsylvania, with such vertically-integrated licenses also referred to as "Super Licenses" in the state.
TerrAscend has agreed to acquire all of the equity of Ilera for a total consideration of between $125 million to $225 million.
Ilera's senior operating team — including CEO Greg Rochlin, Director of Cultivation Andrew Sack, and Chief Scientific Officer Oludare Odumosu — will continue in management positions and are expected to work within the broader TerrAscend organization. All the employees at the company's Waterfall cultivation and manufacturing site and their Plymouth Meeting dispensary site are expected to join TerrAscend's rapidly expanding US operations. Ilera is currently the second largest employer in Waterfall.