Medical marijuana firm spends $170M to expand into Lancaster, Mount Joy, elsewhere – LNP | LancasterOnline

A Chicago-based medical marijuana company is spending $170 million to expand in Pennsylvania through a pair of acquisitions which include a Lancaster dispensary and a Mount Joy growing-and-processing operation.

Cresco Labs recently agreed to buy three Cure Penn dispensaries, including one here on Fruitville Pike in the former Kmart Plaza, plus dispensaries in Philadelphia and Phoenixville (near King of Prussia) for $90 million.

The Fruitville Pike store is the county’s oldest dispensary, opening in March 2018 and operating seven days a week. It has nearly 20 employees.

The Cure Penn dispensaries will join Cresco Labs’ five dispensaries operating under the Sunnyside brand, including a Wyomissing location that opens today.

“We’re continuously focused on normalizing the cannabis-buying experience,” said William Butler, Cresco Labs’ senior vice president for retail, in a prepared statement. “Our goal is for patients who prioritize their health and wellness to feel as comfortable buying cannabis products as they do visiting a supermarket or fitness center.”

The acquisition is expected to be completed by year-end. When that happens, the three Cure Penn dispensaries will become Sunnyside locations. However, they already carry some Cresco Labs products, including the Cresco, Remedi and Good News brands, as Cresco Labs is the

Read More Here…

Share on facebook
Share on twitter
Share on reddit
Share on pinterest
Share on email

Bud Digest

This entry was posted in Vaporizer E-Cigarette Stocks News. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Post a comment or leave a trackback.

Leave a Reply

Your email address will not be published. Required fields are marked *

Your email address will never be published.