The purchase will be one of the most significant transactions in the cannabis industry. The management teams of the two companies have not yet made an official announcement.<\/p>\n\n\n\n
Cresco specializes in the production and distribution of cannabis. The company has several brands such as Mindy’s, High Supply and Good News, and Sunnyside stores, mainly present in the eastern United States, Illinois, and Florida.<\/p>\n\n\n\n
![\"\"](\"https:\/\/cannadaily.news\/wp-content\/uploads\/2022\/04\/CC_CORPORATE_-01-700x366.jpg\")
<\/figure><\/div>\n\n\n\nColumbia Care is also present in the Eastern United States and Western markets. The company has more than half a dozen stores in Los Angeles, San Francisco, San Diego, and about 20 boutiques in Colorado. Columbia Care has so far been a strong competitor for Cresco, which has therefore decided to buy the company to expand its market. <\/p>\n\n\n\n
The American giants are regrouping.<\/strong><\/p>\n\n\n\n In market valuation, the Cresco company represents 1.8 billion dollars against 1.2 billion dollars for Columbia Care. Cresco has decided to invest almost its weight in the stock market, a transaction estimated at 2 billion dollars. “It’s not the biggest acquisition in the history of cannabis, but it’s still a huge one,” noted Antoine Quesnel, a French trader specializing in cannabis company stocks.<\/p>\n\n\n\n In the United States, cannabis is still prohibited at the federal level. This aspect makes the activity of cannabis companies complicated. “To sell cannabis, you have to produce it and sell it in the same state, so it costs a lot,” said Quesnel. “If Cresco wanted to get into California, it would take them two years. If they buy Columbia, they are there tomorrow.”<\/p>\n\n\n\n Cannabis sales in the United States have been booming and American giants from the cannabis industry have been regrouping lately. According to industry research firm BDSA, cannabis sales are forecast to reach $46 billion by 2026, as states like New York and New Jersey open up to the market. Last spring, Trulieve decided to buy one of its competitors, Harvest, in order to develop its market. The CEO of Trulieve said, “This allows us to accelerate our entry into Arizona.”<\/p>","protected":false},"excerpt":{"rendered":" According to sources close to the news agency Reuters, the American cannabis producer Cresco will soon announce the acquisition of its competitor, Colombia Care,…<\/p>","protected":false},"author":1,"featured_media":2842,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[77],"tags":[237,8,7,224,216,9,17,3,902,901,6,13],"gutentor_comment":5,"yoast_head":"\n![\"\"](\"https:\/\/cannadaily.news\/wp-content\/uploads\/2022\/04\/Cresco-Labs-boosts-revenues-but-records-US291M-charge-700x402.jpg\")
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