The store, which has since been rebranded as Cannabist, will be one of two Columbia Care locations sold to Sean 'Diddy' Combs as part of a deal to satisfy antitrust concerns surrounding Cresco's proposed $2 billion acquisition of Columbia Care.
The deal to sell off a portion of the combined Cresco-Columbia Care portfolio to Combs, announced Friday, includes the Columbia Care dispensaries in Villa Park and Chicago’s Jefferson Park neighborhood, which have been rebranded as Cannabist, as well as a Columbia Care production facility in Aurora.If approved by regulators, Combs would form the largest Black-owned cannabis company in the U.S.
The Combs sale will bring Chicago-based Cresco Labs, one of the largest publicly traded cannabis companies in the U.S., one step closer to becoming a lot bigger with itsof New York-based Columbia Care in an all-stock merger valued at about $2 billion. The Cresco-Columbiadeal, announced in March, would create a cannabis cultivation and retail giant with more than 180 stores across an 18-market footprint, and will likely require additional divestitures to win regulatory approval.
Columbia Care, which started as a medical-only operator 10 years ago, has grown into one of the largest multistate cannabis companies in the U.S. with a footprint in 18 states, including 99 dispensaries and 32 cultivation facilities.
Cresco is 🗑️ weed.
He’s also changing his name back to PUFF daddy