$2 Billion Deal Sees Cresco Labs Acquire Columbia Care
Cresco Labs will be acquiring Columbia Care Inc. in one of the largest acquisitions ever for the cannabis industry. The deal is valued at approximately $2 billion and will merge Cresco’s extensive product line with Columbia’s expansive retail apparatus . Once the deal is official, Cresco will have a business presence in 17 states (up from 10 before the acquisition) as well as the District of Columbia, according to Bloomberg . “We are incredibly excited to announce this transformative transaction today at a very important time in the development of this industry,” said Charles Bachtell, CEO of Cresco Labs. “This acquisition brings together two of the leading operators in the industry, pairing a leading footprint with proven operational, brand, and competitive excellence. The combination is highly complementary and provides unmatched scale, depth, diversification, and long-term growth. On a pro-forma basis, the combined company will be the largest cannabis company by revenue, the numb...