What Investors Need to Know About This $2 Billion Marijuana Company Acquisition
Concurrent with the release of its fourth-quarter results on Wednesday, Cresco Labs (OTC: CRLBF) made a monster announcement: It has struck a deal to acquiring fellow marijuana company Columbia Care (OTC: CCHWF).
According to the two companies, by combining in the deal they are creating the largest multi-state operator (MSO) in the U.S. So this is quite a big piece of news in the pot industry. Here's a rundown of its particulars.
When companies about to merge use the term "largest," we should always take it with a degree of skepticism. Cresco and Columbia, which published a joint press release on their arrangement, said that together they will form this country's No. 1 MSO in terms of pro forma revenue (over $1.4 billion combined in the fourth quarter of last year).
Source Fool.com
