Cresco Labs buying Cure Pennsylvania – Crain's Chicago Business

Chicago-based cannabis firm Cresco Labs is buying Cure Pennsylvania in a $90 million cash-and-stock deal, according to Green Market Report.

The deal includes dispensaries in Lancaster, Phoenixville and Philadelphia, Pa. Cresco said the three new stores would be incremental and complementary to Cresco’s four existing Pennsylvania dispensaries, Green Market Report said.

“As we implement localization strategies tailored to state level dynamics, this transaction with Cure Penn is expected to expand our retail footprint in Pennsylvania, increase profitability and strengthen our wholesale leadership position in the state. We’re thrilled to continue executing our playbook of achieving depth in strategic markets via rigorous capital allocation,” Charlie Bachtell, Cresco CEO and co-founder, said in a statement.

Cresco Labs closed last month on its acquisition of Cultivate, which operates dispensaries in Leicester, Worcester and Framingham, Mass.

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