Mega mergers have been expected to reach a fever pitch this year, and this one, announced yesterday, is proof of the direction we’re headed.
Cresco Labs, already a behemoth in the weed industry, has bought Columbia Care. In terms of sales, this would be the largest marijuana company in the US. Both companies are listed in Canada, but sell their product in the US.
Their assets overlap in many states, so divestitures will be a large part of this merger in the coming months. In total, Cresco Labs has paid about $2 billion in stock for the deal to go through.
Read the press release here.
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