Cresco Labs, a publicly traded Chicago-based cannabis company operating in multiple states with $476 million in annual revenue, announced on Friday it had completed an acquisition of Cultivate, whose Leicester outpost was the first adult-use dispensary to open in Central Massachusetts, and one of the first two to open in the state on the same day.
The planned acquisition was first announced in March and was slated to net Cultivate $158 million. Final financial details were not disclosed following the closing.
The acquisition includes three active adult-use dispensaries, located in Leicester, Framingham, and Worcester.
At closing, Cresco Labs’ Fall River dispensary will transition to being medical-only, per Cresco’s announcement. It adds 42,000 square feet of active flowering canopy to the Cresco dossier.