Cresco Labs Inc. Archives - Cannabis Business Executive - Cannabis and Marijuana industry news

Columbia Care Picks Up the Pieces Post-Cresco

September 12, 2023
Tom Hymes
Company Stories, Multiple State Operators, News & Insights, Spotlight
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It is almost an understatement to say that a lot has happened to New York-based Columbia Care Inc. (NEO: CCHW) (OTCQX: CCHWF) (FSE: 3LP) since Cannabis Business Executive last profiled the company in November 2021. Four months after that story…

Cresco Labs to Buy Columbia Care in $2 Billion Cannabis Deal

Deal will expand Cresco reach to 17 states, up from 10, Marijuana industry is consolidating amid U.S. legal hurdles Cresco Labs Inc. plans to buy Columbia Care Inc. for about $2 billion in one of the largest cannabis industry mergers yet.…

Cannabis Producer Cresco nears $2 billion purchase of Columbia Care – sources

March 22 (Reuters) - U.S. cannabis producer Cresco Labs Inc (CL.CD) is in advanced talks to buy rival Columbia Care Inc (CCHW.NLB) for around $2 billion, three people familiar with the matter said on Tuesday. If a deal is finalised…

Players In the Prairie State

The Illinois cannabis market is booming. Adult-use sales alone have exceeded $100M for six months running, and no doubt September will follow as both July and August topped $120M in sales. The state will eventually fix the many problems snarling…

Cresco Labs Hires PepsiCo Veteran and Supply Chain Expert Ty Gent as Its New Chief Operating Officer

PRESS RELEASE CHICAGO--(BUSINESS WIRE)-- Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or “the Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced the hiring of CPG industry veteran Ty Gent as the Company’s new Chief Operating…

Cresco Labs Closes Financing With Lenders to Extend Maturity of Senior Secured Term Loan and Increase Facility to $200 Million

December 14, 2020
Press Release
Cresco Labs
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PRESS RELEASE CHICAGO--(BUSINESS WIRE)-- Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today the closing of the agreement with lenders to extend the maturity of its…

Cresco Labs Announces Record Revenue of $153.3 Million, Growth of $59 Million or 63% QoQ, and Adjusted EBITDA1 of $46.4 Million

November 18, 2020
Press Release
Banking, Finance & Real Estate, Press Releases
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PRESS RELEASE Company affirms position as the largest wholesaler of branded products in the industry with $90.5 million in wholesale revenue Record revenue of $153.3 million, 63% growth QoQ, an absolute increase of $59 million Record adjusted EBITDA1 of $46.4…

Cresco Labs Bolsters Leadership Team With Three Senior Promotions

PRESS RELEASES David Gacom, Melissa Wagamon and Sean McAlister, who move into Regional President roles, will lead the business across the platform while strengthening the company’s geographic footprint Cresco Labs promotes David Gacom, Melissa Wagamon and Sean McAlister to Regional…

Cresco Launches Good News Cannabis Brand

September 9, 2020
Press Release
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PRESS RELEASE Developed to take market share from alcohol, Good News is a mainstream, social occasion-based cannabis brand for today’s modern consumers Cresco Labs announced the launch of Good News, the newest cannabis brand to its growing portfolio of…

Cresco Labs Announces Appointment of Carol Vallone to its Board and the Retirement of Brian McCormack

PRESS RELEASE CHICAGO--(BUSINESS WIRE)-- Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or “the Company”), one of the largest vertically integrated multistate cannabis operators in the United States, today announced additional actions in board refreshment and corporate governance to further strengthen its leadership…

Caltabiano resigns from Cresco board of directors

PRESS RELEASE Chicago (June 5, 2020)–Cresco Labs co-founder Joe Caltabiano has resigned from the company’s board of directors effective immediately. He previously had left his executive role as president at the company in March but had remained on the board…

Meet Mindy Segal, the Chicago Chef Infusing Haute Gummies With Weed

“We are in a renaissance period,” founder of Mindy’s Chef Led Artisanal Edibles says of the industry" On a recent pre-pandemic night in February, Mindy’s HotChocolate in Chicago was buzzing for a unique “Flavor Trip” tasting event. Industry folks and…

Cresco Labs Announces First Quarter 2020 Results

May 29, 2020
Press Release
Banking, Finance & Real Estate, Press Releases
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PRESS RELEASE Record revenue of $66.4 million in Q1’20, 60% growth over Q4’19 revenue, 26% growth on the same asset base as net pro-forma Q4’191 Completed largest cultivation expansion in company history adding 6x cultivation space in Illinois and 4x…

Cresco Labs Announces Record Fourth Quarter & Full Year 2019 Results With Revenue Growth of 144% Year-over-Year and 14% Quarter-Over-Quarter and Pre-Announces First Quarter 2020 Revenue

PRESS RELEASE Conference Call with Investors and Analysts to be Held at 5:00 p.m. Eastern Time Today CHICAGO--(BUSINESS WIRE)--Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) (FSE: 6CQ) (“Cresco” or the “Company”) one of the largest vertically integrated multistate cannabis operators…

Cresco Labs Announces Mutual Agreement to Terminate Purchase Agreement With Tryke – Frees-Up $55 Million in Capital to Further Invest in Organic Growth Pipeline

April 27, 2020
Press Release
Banking, Finance & Real Estate, Mergers & Acquisitions
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PRESS RELEASE CHICAGO--(BUSINESS WIRE)-- Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or “the Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it has reached a mutual agreement to terminate the purchase agreement dated…