Cannabis REITs Cresco Labs & Columbia Care Terminate Merger Agreement

Cresco Labs and Columbia Care have announced a mutual agreement to amicably terminate a previously planned merger. Earlier this year, Cresco had agreed to acquire all of the issued and outstanding shares of Columbia Care, but both parties have since decided to end the deal.
Charles Bachtell, CEO and Co-founder of Cresco Labs commented: “In light of the evolving landscape in the cannabis industry, we believe terminating this transaction is in our long-term interest as well as that of our shareholders. We are grateful for Columbia Care’s collaboration and dedication during this process.”
Cresco Labs is one of America’s largest multi-state cannabis operators with an approach based on consumer packaged goods (“CPG”) wholesale branded products while Columbia Care holds licenses in 16 U.S jurisdictions making them one its largest cultivators, manufacturers & providers for cannabis products .