Cannapany on June 16, 2021 No Comments
The cannabis operator continues to wade deeper into the US cannabis market
TerrAscend is already an established cannabis name in the North American market, but, like many, never quits looking for new ground to cover. The cannabis operator gained access to the Maryland market last month after acquiring HMS Health, and it is now leveraging its newfound position to begin introducing its products to the state. According to an announcement from the company yesterday, TerrAscend is bringing some of its Kind Tree branded products to Maryland.
The closing of the HMS Health acquisition gave TerrAscend access to facilities that are allowing it to expand its reach. It now has an in-state property that has begun to cultivate 15 strains of Kind Tree brand flower and is launching new form factors of branded vapes and half-gram pre-rolls in the state. As TerrAscend settles into Maryland and cements its presence, it expects to expand its cultivation capacity in the state, as well as introduce other brands and formulations. The additional capabilities, according to the company’s announcement, will be introduced sometime during the second half of the year.
Adds TerrAscend Executive Chairman Jason Wild, “The integration of HMS is progressing well, and the introduction of our Kind Tree brand is an important milestone in this process. Maryland is a key limited license market with strong growth potential, strategically located near our core Northeast markets of Pennsylvania and New Jersey. During the second half of 2021, we plan to significantly expand our cultivation and processing capacity in each of these underserved states.”
Kind Tree offers a wide range of products, including premium flower, pre-rolls, pre-ground flower and extracts. The company has a significant presence in Pennsylvania, New Jersey and Maryland, where it can be found at many of TerrAscend’s The Apothecarium dispensaries and other locations. Kind Tree also offers certain strains that are specific to the individual states in which it operates, with new cultivations being introduced on a regular basis.
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