Cresco Labs, a multi-state marijuana company, has actually revealed its acquisition of licenses and assets in Arizona. This marks Cresco Labs’ second acquisition in Arizona, adding two cultivation facilities, one processing center and one dispensary to a growing, processing and dispensary operation currently owned in the Phoenix area.
Cresco has participated in a conclusive agreement to acquire Arizona Facilities Supply and certain of its subsidiaries for cash and equity factor to consider. AFS operates Encanto dispensary in Phoenix and a cultivation center near the California border. Closing of the transaction is anticipated to happen in the 4th quarter of 2018 or the first quarter of 2019.
” Arizona is a state closely aligned with our tactical concentrate on entering markets with terrific client participation, sound regulatory structures and a need for consumer-focused and constant, quality cannabis products,” stated Cresco Labs CEO and Co-founder Charlie Bachtell. “At Cresco Labs, we have actually already effectively scaled the steepest knowing curves in the most highly regulated markets such as Illinois, Ohio and Pennsylvania. As a result, we are able to duplicate our procedure to expand into other markets expeditiously and are delighted to expand our scale in the excellent state of Arizona.”
AP Photo/Ted S. Warren
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