CCHWF - Cresco CEO Bachtell says marketing own cannabis products leads to better margins

Cresco Labs (OTCQX:CRLBF) CEO Charlie Bachtell said that the fact his company sells its own cannabis and has tiered products for consumers will help to achieve better margins. Bachtell was appearing on the CNBC program "Fast Money" late Wednesday afternoon to discuss the multi-state operator's ("MSO") ~$2B acquisition of Columbia Care (OTCQX:CCHWF) announced earlier in the day. Bachtell noted that Cresco (CRLBF) offers a brand portfolio of what he characterized as "good, better, and best" product designed to appeal to consumers' different spending habits at stores. He added that the price of cannabis needs to come down so that MSOs can better compete with the illicit market. Responding to a question about if he sees the SAFE Banking Act -- legislation that would allow legal cannabis operators to do business with U.S. financial companies -- Bachtell said that it is "more likely than not that we are on track for federal reform

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Cresco CEO Bachtell says marketing own cannabis products leads to better margins