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Cresco Labs, Columbia Care to Merge, Creating Leader in Cannabis Industry
Chicago-based Cresco Labs and New York-based Columbia Care said Wednesday they would merge in a deal valued at approximately $2 billion. Expected to close in the fourth quarter, the merger is expected to create the largest multi-state operator in the cannabis sector, including more than 130 stores across 18 markets.
‘This acquisition brings together two of the leading operators in the industry, pairing a leading footprint with proven operational, brand and competitive excellence,” said Charles Bachtell, CEO of Cresco Labs. “The combination of Cresco Labs and Columbia Care accelerates our journey to become the leader in cannabis in a way no other potential transaction could.”
The merger has been unanimously approved by the boards of Directors of both companies. It’s subject to, among other things, receipt of the necessary approvals of the Supreme Court of British Columbia and approval by two-thirds of Columbia Care shareholders.
- ◦Sale/Acquisition

