Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or “the Company”), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”), as amended, in respect to Cresco Labs’ pending acquisition of Cultivate Licensing LLC and BL Real Estate LLC (collectively “Cultivate”)(the “Transaction”). The waiting period expired without the issuance of a so-called “second request” by the United States Department of Justice Antitrust Division (the “DOJ”). The Transaction remains subject to certain closing conditions, including approval from the Commonwealth of Massachusetts which is anticipated to be received in the fourth quarter of 2021.
“We look forward to completing the remaining steps required to close the Transaction and are excited to begin our work with the Cultivate team later this year,” said Charles Bachtell, CEO of Cresco Labs. “Upon closing, Cresco Labs will immediately vault to a top 3 share position in Massachusetts, the third $1B+ market where we’ve achieved this status. Once again, we will execute our playbook and demonstrate the growth and leverage that can be achieved by going deeper in strategic states.”
For additional highlights and details on the Transaction, please see the announcement press release and presentation provided on our Investor Relations website.
