TerrAscend Enters Ohio Market with Ratio Cannabis Acquisition, Expands U.S. Footprint
TerrAscend Corp. has officially entered the Ohio market with the acquisition of Ratio Cannabis LLC, a high-performing dispensary located in Goshen Township. The move marks the multistate operator’s expansion into its sixth U.S. state and reinforces its ambitions for continued national growth.
The newly acquired dispensary—TerrAscend’s 39th retail location—boasts $9 million in annualized revenue and operates without any immediate local competition, giving the company a strategic foothold in a region with untapped potential. Executive Chairman Jason Wild described the acquisition as “a great first step in Ohio,” emphasizing that more are on the way. “We will continue to aggressively pursue additional accretive dispensary acquisitions, up to the eight dispensary state limit.”
With operations already spanning Pennsylvania, New Jersey, Maryland, Michigan, and California—plus retail locations in Canada—TerrAscend is building one of the most geographically diverse portfolios in the North American cannabis sector. The company’s brands, including The Apothecarium, Gage, and Cookies, are recognized for high-quality products and experiential retail environments. The Ohio expansion is expected to be immediately accretive in terms of EBITDA and cash flow.
Though cannabis remains federally illegal in the U.S., TerrAscend continues to grow under strict compliance with state-level laws, a factor it acknowledges comes with risk. The company issued a standard federal legal disclaimer, noting potential implications of federal enforcement under current U.S. law.
Despite this, momentum within the Buckeye State is building. Ohio recently legalized adult-use cannabis in a 2023 ballot initiative, and industry players are racing to secure retail infrastructure before full recreational sales begin. By entering the market early, TerrAscend positions itself as a major contender in shaping Ohio’s cannabis landscape.
As Wild put it, "Entering Ohio has long been a priority for us." With Ratio Cannabis now under its wing and plans for further acquisitions, TerrAscend is making clear that it’s not just entering Ohio—it’s aiming to own the space.
For more visit www.terrascend.com.
