Cresco+Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or “the Company”), a vertically integrated multi-state operator and the No. 1 U.S. wholesaler of branded cannabis, and Columbia+Care (NEO:CCHW) (CSE:CCHW) (OTCQX:CCHWF) (“Columbia Care”), today announced the signing of definitive agreements to divest certain New York, Illinois, and Massachusetts assets (the “Assets”) to an entity owned and controlled by Sean “Diddy” Combs (the “Transaction”). The divestiture of the Assets is required for Cresco to close its previously announced acquisition of Columbia Care (the “Columbia Care Acquisition”). The Transaction is expected to close concurrently with the closing of the Columbia Care Acquisition. Total consideration for the Transaction is an amount up to US$185,000,000 (the “Purchase Price”).
Cresco Labs & Columbia Care Announce Planned Divestiture in Three Markets to Sean "Diddy" Combs, Creating the First Minority-Owned, Vertically Integrated Multi-State Cannabis Operator
Nov 04, 2022
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