Major Cannabis Company Pulling Out of Michigan -- 'An Extremely Difficult Market'

Cannabis (Depositphoto)

TerrAscend Corp., a publicly traded company headquartered in Pennsylvania that operates 20 cannabis dispensaries and four cultivation and processing facilities in Michigan, announced it is ending its operations in the state, citing "an extremely difficult market."

The Michigan market is oversaturated and has been operating on thin margins, with dispensaries often running discounted specials to remain competitive. The exit will result in a loss of about 250 jobs.

The company owns several brands, including Gage Cannabis, The Apothecarium, Cookies, Lemonnade, Ilera Healthcare, Kind Tree, Legend, State Flower, Wana, and Valhalla Confections.

“After an extensive evaluation, we have made the strategic decision to exit the Michigan market,” said Jason Wild, Executive Chairman of TerrAscend, in a statement. “Michigan is an extremely difficult market, and we have come to the realization that our resources can be better utilized in our other markets.”

In a press release, the company said the Michigan exit is expected to be substantially completed in the second half of 2025.

Following the exit, the company will operate 19 dispensaries and four cultivation and processing facilities across five states—New Jersey, Maryland, Pennsylvania, Ohio, and California—as well as in Toronto.