Cresco Expands Retail Footprint

Cresco Expands Retail Footprint

Chicago-based Cresco Labs acquisition of Bay, LLC Cure Pennsylvania (Cure Penn) has given it three dispensaries in Philadelphia, Phoenixville, and Lancaster. 

The dispensaries will complement Cresco’s five stores currently operating as Sunnyside (Cresco Labs’ national dispensary brand). Sunnyside, a wellness-focused retailer, was created to build trust, education, and convenience for existing and new cannabis consumers. 

Cresco will transition all the newly-acquired stores to Sunnyside by the end of Q1 2022.

“Our focus heading into 2022 is on tailoring our strategy to the dynamics of each state to maintain a dominant market position and increase profitability,” Cresco Labs CEO and co-founder Charlie Bachtell said in a press release. 

Cresco Labs’ brands – Cresco, High Supply, Mindy’s Edibles, Good News, Remedi, Wonder Wellness Co., and FloraCal Farms – are some of the industry’s most recognized and trusted names. 

Cresco Labs is the largest wholesaler of branded cannabis products in the U.S. and one of the largest vertically integrated multistate cannabis operators

To ensure that all members of society have the necessary skills, knowledge, and opportunity to participate in the cannabis industry, Cresco Labs established SEED, the industry’s most significant Social Equity and Educational Development initiative. 

Cresco recently acquired Massachusetts-based Cultivate, which gave them approximately 42,000 square feet of active flowering canopy, giving them a combined canopy in-state to about 64,000 square feet. 

The acquisition also includes space to expand cultivation capacity further. Cresco Labs also added three dispensaries in Leicester, Framingham, and Worcester, bringing combined retail storefronts in-state to four.

“The moves we’re making in this state to increase our retail footprint and add cultivation put us in the best position to remain the number one wholesaler in the current framework and continue to win when adult-use is ultimately introduced,” Bachtell said. “Another example of our focus on strategic breadth, depth, and execution as the path to success today and as this industry evolves. Expanding operations in the most strategic U.S. cannabis markets is at the heart of our growth strategy.”

Due to previous Covid-19 restrictions, several cannabis businesses purchase delivery services to deliver cannabis to people. Cresco Labs acquired Bluma Wellness to help expand how people receive cannabis. 

The state of Pennslyvania limits access to medical marijuana at dispensaries and licensed growers only. Still, two lawmakers are proposing a bill that will allow patients to grow cannabis at home for personal use

Ever since Pennsylvania legalized medical marijuana in 2016, more people are taking advantage of the legislation to enjoy their favorite cannabis-filled joints with ease. 

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