Cannabis company Cresco Labs to acquire Columbia Care for $2 Billion

Cresco Labs, the Illinois-based cannabis producer, will acquire New York-based Columbia Care for $2 billion in an all-stock transaction.

If the deal is completed, Cresco will become one of the country’s largest cannabis producers and retailers with over 100 dispensaries across 18 states.

“We couldn’t be more excited,” says Charlie Bachtell, CEO of Cresco.

“It’s a unique opportunity to create industry leadership; it's a very important time with some sort of federal regulatory reform, we think, on the horizon.”