Make your contribution now and help Gothamist thrive in 2022.Sean “Diddy” Combs is jumping into New York’s cannabis industry with a $185 million deal — a strong foothold that would also create the largest Black-owned cannabis company in the U.S.
The two firms are shedding assets in order to comply with regulatory requirements as they finalize their own $2 billion acquisition deal. States including New York have limits on the number of dispensaries and production facilities license holders can operate. They firstthat Cresco, headquartered in Chicago, would acquire New York-based Columbia Care, creating one of the biggest cannabis companies in the U.S.
Interesting!
Glad that racial preferences to ensure that communities most harmed by the war on drugs get the first bite at the Apple are working out so well…lord knows Diddy’s suffered more than most 😂