Deals
Cresco Targets California With $820 Million Pot Acquisition
- Acquired company has distribution service in West Coast state
- Cannabis consolidation accelerates amid surging U.S. sales
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Cresco Labs Inc., one of the most valuable U.S. pot companies, is expanding in California.
The Chicago-based company agreed to acquire Origin House, formerly known as CannaRoyalty, which develops cannabis brands and operates a distribution service that delivers products to dispensaries in California, the world’s largest legal marijuana market. The deal is valued at about $820 million.