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Cresco Labs to Acquire Cure Pennsylvania for USD 90m
Friday 24 September 2021

Chicago-based cannabis operator/wholesaler Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) has agreed to acquire 100% of the outstanding equity interest in Bay, LLC (d/b/a Cure Pennsylvania), three cannabis dispensaries, for an aggregate consideration equal to USD 90m, the company said.

The aggregate consideration amount for the transaction will be satisfied at closing through the payment of cash and stock. The transaction will be completed on a cash-free, debt-free basis with a mutually agreed upon normalised target level of working capital.

The transaction with Cure Penn is expected to expand Cresco's retail footprint in Pennsylvania, increase profitability, and strengthen its wholesale leadership position in the state.

Cresco Labs Inc. is a vertically integrated multistate cannabis operator in the United States, with a mission to normalise and professionalise the cannabis industry.
Date Published: 24/09/2021