Cresco Labs cancels the $283m acquisition of Tryke.

Cresco Labs, a US-based vertically integrated multistate cannabis operator, agreed to acquire Tryke, a vertically integrated seed-to-sale cannabis company, for $283m. “The decisions we have made over the past year have de-risked Cresco, leaving us with one of the most experienced management teams, and one of the strongest balance sheets to deploy into our high-return, core markets. We know that times of uncertainty come with opportunity. Terminating the Agreement puts Cresco in a position to better manage any potential future implications from Covid, take advantage of the current macro environment and succeed in achieving our goal of building the most important cannabis company in the US,” Charlie Bachtell, Cresco CEO.