Cresco Labs

History:

• Founded in 2013 by Charlie Bachtell and Joe Caltabiano.
• Cresco had 300 employees in six states by the end of Q3 2018.
• Raised $100 million in private investment capital in October 2018.
• Began trading on the CSE on December 3, 2018.
• Bachtell continued at Guaranteed Rate until 2015.

Acquisitions:

• Acquired VidaCann for $120 million in March 2019.
• Announced an $850 million acquisition of Origin House in April 2019.
• Entered an agreement to acquire Bluma Wellness for $213 million in January 2021.
• Announced the acquisition of Laurel Harvest for $80 million in October 2021.
• Announced the acquisition of Columbia Care for $2 billion in March 2022.

Marketing and Branding:

• Hired marketing executives from Gatorade, MillerCoors, and Nike.
• Created a subsidiary called Well Beings in February 2019.
• Planned to rebrand 56 dispensaries under the Sunnyside brand in July 2019.
• Aimed to enhance the shopping experience in retail locations.
• Consolidated 11 brands under the Sunnyside brand.

Business Expansion:

• Cresco Labs plans a hiring binge to support its growth.
• Cresco Labs hires major marketing muscle to boost its presence.
• Cresco Labs ventures into the CBD trend beyond the marijuana market.
• Changes in name and look of dispensaries to align with retail corridors.
• Rebranding of weed dispensaries for a fresh image.

Industry Influence:

• Illinois legalizing cannabis could influence New York and New Jersey to follow suit.
• Cresco Labs’ major acquisition boosts buying in the marijuana sector.
• U.S. Pot Stock Megamerger by Cresco Labs clears a hurdle but faces challenges.
• Biggest-ever U.S. cannabis acquisition deal contributes to the growth of the marijuana sector.

Recognition:

• Cresco Labs featured in Crains Chicago Business, CNBC, Chicago Tribune, Tampa Bay Times, Cannabis Business Times, MarketWatch, Forbes, Ad Age, and High Yields.
• Cresco Labs is a key player in the cannabis industry with a notable presence in various media outlets.
• Categories associated with Cresco Labs include cannabis companies, American companies established in 2013, and companies listed on the Canadian Securities Exchange.

Cresco Labs Data Sources