The cannabinoid industry continues its march towards consolidation with two of the biggest players combining forces; Cresco Labs (OTCMKTS: CRLBF) agreed to purchase Columbia Care (OTCMKTS: CCHWF) for $2 billion in stock creating the largest US cannabis company by sales, dethroning Trulieve (OTCMKTS: TCNNF). The acquisition also gives Cresco access to key positions in 7 of the top 10 potential cannabis markets.
This also positions the new entity for significant success as it will no longer be directly competing in the emerging markets of New York and New Jersey. Acquisitions and mergers will continue to dominate cannabis industry headlines; however, we believe the only real catalyst for the industry will come from federal policy changes.
Bryan Fields, Eighth Revolution
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