Cresco Labs to acquire Origin House for C$1.1bn.

Cresco Labs, a leading US cannabis company, to acquire Origin House, a growing cannabis brands and distribution company, for C$1.1bn. Under the terms of the agreement, holders of common shares of Origin House will receive 0.8428 subordinate voting shares of Cresco Labs for each Origin House share. “The acquisition of Origin House is another example of our focused and disciplined approach to creating a meaningful presence in key cannabis markets through excellence in brand development and distribution,” said Cresco Labs CEO and Co-founder Charlie Bachtell. “It establishes Cresco Labs as the leading multi-state operator with one of the largest distribution platforms in California, which is projected to be a $7.7bn cannabis market in 2022 by Arcview Market Research/BDS Analytics."