Multi-state cannabis firm Cresco Labs will enter the Maryland market by acquiring a Baltimore County medical marijuana dispensary.
Chicago-based Cresco Labs (CSE:CL) (OTCQX:CRLBF) announced it has entered a definitive agreement to acquire 100% of Blair Wellness LLC, a licensed Maryland cannabis firm that operates a dispensary at 5806 York Road. The deal is expected to close in the fourth quarter of 2021, pending necessary regulatory approvals. The financial terms of the deal were not disclosed.
The deal will add to Cresco’s existing portfolio of more than 30 other retail locations the company operates across Arizona, Florida, Illinois, Massachusetts, New York, Ohio and Pennsylvania. Cresco also operates 13 cannabis cultivation facilities across eight states. This will be the firm’s first site in Maryland.