Columbia Care, Cresco Labs extend acquisition closing timeline to June 30

Columbia Care (CCHWF) announced that it has mutually agreed with Cresco Labs (CRLBF) to extend the outside date to complete the proposed acquisition by Cresco Labs of Columbia Care from March 31 to June 30. The extension will allow the companies additional time to finalize divestiture agreements and obtain the regulatory approvals required to close. Columbia said in a statement. "We continue to make meaningful progress on the remaining divestitures and look forward to making those announcements. We are driving operational efficiencies, enhancing market-level scale to offset pricing pressure, and demonstrating leadership in several of the fastest growing markets in the industry, such as New Jersey, Virginia and West Virginia. These efforts will enable the combined company to leverage Columbia Care’s leading retail footprint while maintaining Cresco’s wholesale leadership. We are grateful to the entire Columbia Care team for their ongoing commitment to driving our business forward in advance of the merger," said Nicholas Vita, CEO of Columbia Care.