Cresco Labs closes US$50 million acquisition of nine Pennsylvania dispensaries from PharmaCann Penn
Cresco closes Pennsylvania dispensary acquisition
Cresco Labs closed the acquisition of PharmaCann Penn for USD 50 million, adding nine operating medical marijuana dispensaries in Pennsylvania.
Deal terms include cash and a seller note, structured on a cash-free, debt-free basis with a normalized working-capital target.
The transaction lifts Cresco to the top retail position in Pennsylvania’s medical cannabis market, which generated more than USD 1.1 billion in annual sales last year.
Management expects the acquisition to be immediately accretive to revenue, margins, and cash flow.
