Chicago-based Cresco Labs Inc. has acquired Origin House for about $823.5 million, representing the largest cannabis-related acquisition in U.S. history. The acquisition of Origin House, the registered business name for Canada-based CannaRoyalty Corp., will allow Cresco to place its brands in over 725 dispensaries across the U.S.
The combined entity will be one of the largest vertically-integrated multi-state cannabis operators in the U.S. and one of the largest cannabis brand distributors, according to the companies. The merger will accelerate Cresco Labs' entrance into the California market with the addition of Origin House's vast distribution platform; establish the cannabis industry's first national "house of brands" with a growing multi-state footprint in California, Pennsylvania and Illinois; and combine the expertise of two industry leaders in branded product development and distribution.
Related: Cannabis Investment Firm Ups Stake in Jones Soda Co.; Diners Interested in Cannabis-Infused Menu Items.
from Specialty Food News https://ift.tt/2FSBcWP
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