Mon. 13 Jun 2022, 10:01am ET Benzinga Cannabis, News, Markets

Ayr Wellness Inc. (CSE:AYR) (OTCQX:AYRWF), will begin serving adult-use customers at its three New Jersey dispensary locations on June 15, 2022.

Ayr’s dispensaries are in prime locations in the towns of Woodbridge, Union and Eatontown, all within Central New Jersey, a region of 3.4 million people. Ayr’s adult-use stores represent 3 of 5 adult-use stores in this highly populated region.

“With the simultaneous opening of our three adult-use dispensaries, Ayr immediately has one of the largest adult-use retail footprints in the state of New Jersey. This marks a monumental step for our company,” stated Jonathan Sandelman, founder, chairman and CEO of Ayr. “Adult-use cannabis sales in the state topped $24 million in the first month alone with only 12 dispensaries, according to the New Jersey Cannabis Regulatory Commission. As we bring expanded access and introduce Ayr’s portfolio of high-quality branded offerings, including Kynd flower and Origyn Extracts, to the currently under-served and densely populated Central New Jersey market, we expect adult-use cannabis sales to climb further from these initial levels, with Ayr being a significant contributor. Thank you to our teammates across Ayr who worked so hard to bring this milestone to fruition.”

Ayr currently operates its New Jersey dispensaries under the Garden State Dispensary banner.

Adult-use sales in New Jersey officially began five weeks ago. BDSA expects New Jersey to be the third-largest contributor to overall US sales growth by 2026, projected to generate annual revenue of $2.3 billion in total legal cannabis sales.

Photo by Tim Foster on Unsplash

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