Philly-area marijuana start-up sold for $125 million

Ilera Healthcare, the Plymouth Meeting medical marijuana start-up, announced on Friday that it was being acquired by a Canadian cannabis giant, TerrAscend, in a deal that was valued at $125 million to $225 million.

HIGHLIGHTS

• The $225 million valuation includes payments that are tied to future revenue and profitability targets.
• Ilera was among the first companies to be awarded a “super license” by Pennsylvania.
• In the U.S., TerrAscend owns and operates Apothecarium dispensaries in California and Nevada. It also markets the Haven St. cannabis brand.

Read more on The Philadelphia Enquirer