CRLBF - Will Cresco Labs Become a Cannabis Powerhouse With This Deal?
Mergers and acquisitions are pretty common in a growing industry. We have seen quite a lot of consolidation in the cannabis industry both in Canada and the U.S. With the boom in the U.S. state cannabis markets, the multi-state operators (MSOs) are expanding aggressively.
Recently, Illinois-based Cresco Labs (OTC: CRLBF) reported outstanding quarterly results, wherein both revenue and earnings before interest, tax, depreciation, and amortization (EBITDA) grew at a double-digit rate. But more exciting was the mega-merger announcement made soon after the earnings.
Cresco unveiled its plans to acquire New York-based cannabis company Columbia Care (OTC: CCHWF) . Let's dig into the details to determine how this acquisition could be beneficial for Cresco Labs.
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Will Cresco Labs Become a Cannabis Powerhouse With This Deal?