Cresco Labs to Buy Columbia Care in $2 Billion Cannabis Deal
- Deal will expand Cresco reach to 17 states, up from 10
- Marijuana industry is consolidating amid U.S. legal hurdles
This article is for subscribers only.
Cresco Labs Inc. plans to buy Columbia Care Inc. for about $2 billion in one of the largest cannabis industry mergers yet.
The deal will combine Cresco’s well-recognized marijuana brands with New York-based Columbia Care’s retail footprint to create the largest U.S. multistate operator by revenue, Cresco Chief Executive Officer Charles Bachtell said in an interview.