Cresco Labs to acquire Columbia Care from Canaccord Genuity for $2bn.

Cresco Labs, a vertically integrated multistate cannabis operator, agreed to acquire Columbia Care, a cultivator, manufacturer and provider of cannabis products, from Canaccord Genuity for $2bn. "We are incredibly excited to announce this transformative transaction today at a very important time in the development of this industry. This acquisition brings together two of the leading operators in the industry, pairing a leading footprint with proven operational, brand and competitive excellence. The combination is highly complementary and provides unmatched scale, depth, diversification and long-term growth. On a pro-forma basis, the combined Company will be the largest cannabis company by revenue, the number one wholesaler of branded cannabis products, and the largest nationwide retail footprint outside of Florida," Charles Bachtell, Cresco Labs CEO.