The company announced that Cresco will also take over the Cure Penn dispensaries in Phoenixville and Philadelphia.
Lancaster, Pennsylvania – Note: The video is from August 11th.
Cresco Labs, the multinational, vertically integrated operator and number one wholesaler of branded cannabis products in the United States, announced Monday that it has completed the purchase of Cure Pennsylvania and the medical marijuana dispensary it operates in Lancaster.
The company announced that Cresco will also take over the Cure Penn dispensaries in Phoenixville and Philadelphia.
Cresco said the Cure Penn dispensary locations are incremental and complementary to the five Sunnyside dispensaries located at Cresco Labs in Pennsylvania.
“Our focus in 2022 is to adapt our strategy to the dynamics of each state to maintain a dominant market position and increase profitability,” Cresco Labs CEO and co-founder, Charlie Bachtel, said in a press release. Cure Penn and the pending acquisition of Laurel Harvest, we are adding four new operating stores, licenses for five additional stores, and 52,000 square feet of indoor growing space in Pennsylvania.”
“The moves we are taking in this case to increase our retail footprint and add farming put us in the best position to remain the number one wholesaler in the current framework and continue to win when adult use is eventually introduced,” the statement continued. “Another example of our focus on strategic breadth, depth, and execution as a pathway to success today and as the industry evolves.”
Cresco said it expects to move all stores in Pennsylvania to Sunnyside by the end of its first fiscal quarter in 2022.
