By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Mary Jane's PostMary Jane's Post
  • Tech
  • Science
  • Culture & Arts
  • Press Releases
  • More
    • About Us
    • Advertise
    • Monthly Give-Away
    • Partner With Us
  • Join UsNew
Reading: Cresco Labs Closes Acquisition of Three High-Performing Pennsylvania Dispensaries
Share
0

No products in the cart.

Aa
Mary Jane's PostMary Jane's Post
Aa
  • Press Releases
  • Submit News
  • Join UsNew
Search
  • Topics
    • Business
    • Cannabis Community
    • Cannabis Tech
    • Culture & Arts
    • Industry Leaders
    • Press Releases
  • About Us
    • Guest Columnist
    • Ambassador
    • Partner With Us
Have an existing account? Sign In
Follow US
©2018 - 2022 TheRkive Entertainment Group, LLC. All Rights Reserved.
Mary Jane's Post > Press Releases > Cresco Labs Closes Acquisition of Three High-Performing Pennsylvania Dispensaries
Press Releases

Cresco Labs Closes Acquisition of Three High-Performing Pennsylvania Dispensaries

Business Wire
Posted Business Wire November 25, 2021
Updated 2021/11/25 at 12:30 PM
5 Min Read
SHARE

CHICAGO–(BUSINESS WIRE)–Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or “the Company”), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, announced today the closing of the Company’s previously announced acquisition of Bay, LLC d/b/a Cure Pennsylvania (“Cure Penn” or the “Transaction”).

CURE Phoenixville 0002 Cannabis News

Transaction Highlights

  • Three operational dispensaries in Lancaster, Phoenixville, and Philadelphia
  • Cure Penn’s dispensary locations are incremental and complementary to Cresco Labs’ five existing Sunnyside dispensaries in Pennsylvania
  • A retail platform that outperforms the average revenues per-store in Pennsylvania, to be further improved through Cresco Labs’ Sunnyside* retail model

“Our focus heading into 2022 is on tailoring our strategy to the dynamics of each state to maintain a dominant market position and increase profitability. Between the acquisition of Cure Penn and the pending acquisition of Laurel Harvest, we are adding four new operational stores, licenses for five incremental stores and 52 thousand square feet of indoor cultivation space in Pennsylvania,” said Charlie Bachtell, Cresco Labs’ CEO & Co-founder. “The moves we’re making in this state to increase our retail footprint and add cultivation put us in the best position to remain the number one wholesaler in the current framework and continue to win when adult-use is ultimately introduced. Another example of our focus on strategic breadth, depth and execution as the path to success today and as this industry evolves.”

The Company expects to transition all stores in Pennsylvania to Sunnyside* by the end of Q1 2022.

About Cresco Labs Inc.

Cresco Labs is one of the largest vertically integrated multistate cannabis operators in the United States, with a mission to normalize and professionalize the cannabis industry. Employing a consumer-packaged goods (“CPG”) approach, Cresco Labs is the largest wholesaler of branded cannabis products in the U.S. Its brands are designed to meet the needs of all consumer segments and comprised of some of the most recognized and trusted national brands including Cresco, High Supply, Mindy’s Edibles, Good News, Remedi, Wonder Wellness Co. and FloraCal Farms. Sunnyside, Cresco Labs’ national dispensary brand, is a wellness-focused retailer created to build trust, education and convenience for both existing and new cannabis consumers. Recognizing that the cannabis industry is poised to become one of the leading job creators in the country, Cresco Labs operates the industry’s largest Social Equity and Educational Development initiative, SEED, which was established to ensure that all members of society have the skills, knowledge and opportunity to work and own businesses in the cannabis industry. Learn more about Cresco Labs at www.crescolabs.com.

Forward Looking Statements

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as, ‘may,’ ‘will,’ ‘should,’ ‘could,’ ‘would,’ ‘expects,’ ‘plans,’ ‘anticipates,’ ‘believes,’ ‘estimates,’ ‘projects,’ ‘predicts,’ ‘potential’ or ‘continue’ or the negative of those forms or other comparable terms. The Company’s forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to those risks discussed under “Risk Factors” in the Company’s Annual Information Form for the year ended December 31, 2020 filed on March 26, 2021, and other documents filed by the Company with Canadian securities regulatory authorities; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Company’s forward-looking statements. No assurances are given as to the future trading price or trading volumes of Cresco Labs’ shares, nor as to the Company’s financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Company’s forward-looking statements contained herein, whether as a result of new information, any future event or otherwise. Except as otherwise indicated, this press release speaks as of the date hereof. The distribution of this press release does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this press release or otherwise.

Cannabis News

Contacts

Media:
Jason Erkes, Cresco Labs

Chief Communications Officer

[email protected]

Investors:
[email protected]

For general Cresco Labs inquiries:
312-929-0993

[email protected]

You Might Also Like

Heritage Cannabis Reports 2021 Year-End Financial Results

Flora Growth Launches Vessel in Canada; Signs Deal With Ontario Cannabis Store and Launches Vesselbrand.ca

Anebulo Pharmaceuticals Reports Third Quarter Fiscal Year 2022 Financial Results and Recent Updates

Houston Area Army Veteran Reclaims Life, Eliminates Opioid Use with Medical Cannabis

Heritage Cannabis Announces Corporate Update and Highlights Significant Sales Growth, Market Share and Growing Distribution

TAGGED: Business Wire
Business Wire November 25, 2021
Share this Article
Facebook Twitter Pinterest LinkedIn Reddit
Share
Business Wire
Posted by Business Wire
Follow:
Business Wire, a Berkshire Hathaway company, is the global leader in press release distribution and regulatory disclosure. Investor relations, public relations, public policy, and marketing professionals rely on Business Wire for secure and accurate distribution of market-moving news and multimedia.
Previous Article Best Black Friday Sheets & Bedding Deals (2021): Bed Sheets & Sheet Sets Savings Collated by Spending Lab
Next Article SOL Global Announces OSC Relief in Substantial Issuer Bid
- Advertisement -
Ad imageAd image

Stay Connected

Facebook Like
Twitter Follow
Pinterest Pin
Instagram Follow

You Might Also Like

Heritage Cannabis Reports 2021 Year-End Financial Results

May 12, 2022

Flora Growth Launches Vessel in Canada; Signs Deal With Ontario Cannabis Store and Launches Vesselbrand.ca

May 11, 2022

Anebulo Pharmaceuticals Reports Third Quarter Fiscal Year 2022 Financial Results and Recent Updates

May 11, 2022

Houston Area Army Veteran Reclaims Life, Eliminates Opioid Use with Medical Cannabis

May 11, 2022
Mary Jane's PostMary Jane's Post

©2018 - 2022 TheRkive Entertainment Group, LLC. All Rights Reserved.

  • PRIVACY
  • TERMS OF USE
  • CONTRIBUTOR AGREEMENT
  • CONTRIBUTOR GUIDELINES

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Register Lost your password?