Cresco Labs Gets Closer to Its Massive Deal With Columbia Care
Cresco Labs (OTC: CRLBF), a Chicago-based cannabis multi-state operator (MSO), announced in March that it was acquiring Columbia Care (OTC: CCHWF), a similar cannabis MSO, in an estimated $2 billion deal that is expected to close by the end of this year. After gobbling up Columbia Care, here's why Cresco Labs may become the farthest-reaching, most profitable cannabis company in the U.S.
Taken together, both companies' recently announced Q2 results could foretell what the new Cresco Labs earnings look like come the New year.
Cresco posted total sales of $218 million in Q2 2022, up 4% year over year. Its gross revenue was $112 million, up 5.1% sequentially and 11.7% year over year.
Source Fool.com
