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, today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”), as amended, in respect to Cresco Labs’ pending acquisition of Cultivate Licensing LLC and BL Real Estate LLC (collectively “Cultivate”)(the “Transaction”). The waiting period expired without the issuance of a so-called “second request” by the United States Department of Justice Antitrust Division (the “DOJ”). The Transaction remains subject to certain closing conditions, including approval from the Commonwealth of Massachusetts which is anticipated to be received in the fourth quarter of 2021.
“We look forward to completing the remaining steps required to close the Transaction and are excited to begin our work with the Cultivate team later this year,” said Charles Bachtell, CEO of Cresco Labs. “Upon closing, Cresco Labs will immediately vault to a top 3 share position in Massachusetts, the third $1B+ market where we’ve achieved this status. Once again, we will execute our playbook and demonstrate the growth and leverage that can be achieved by going deeper in strategic states.”
For additional highlights and details on the Transaction, please see the announcement press release and presentation provided on our Investor Relations website.
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.