Cresco Labs has agreed to acquire Columbia Care Inc. in a deal worth $2 billion, making the firm largest multi-state operator in the U.S. with a pro-forma revenue of more than $1.4 billion.
The deal, which still requires regulatory approval, gives the company more than 130 retail stores throughout 18 states – the second largest in the industry and the largest footprint outside of Florida. On a pro-forma basis, Cresco said it expects to have annual revenues in excess of $100 million in eight different states by 2023.
Charles Bachtell, CEO of Cresco Labs, said the “acquisition brings together two of the leading operators in the industry, pairing a leading footprint with proven operational, brand and competitive excellence.”
Read the full story at
