cresco labs Archives - Cannabis Business Executive - Cannabis and Marijuana industry news

Chicago weed giant Cresco Labs claims in suit that competitor GTI poached a top-level employee

August 2, 2023
AggregatedNews
HR and Staffing, Multiple State Operators
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A lawsuit filed this week in Cook County court claims a Cresco chemist resigned in May and quickly joined GTI, in violation of a one-year non-compete agreement. Cresco Labs and Green Thumb Industries have been fierce rivals since Illinois issued…

Cresco Labs and Columbia Care Mutually Agree to Terminate Merger

PRESS RELEASE July 31, 2023 08:21 AM Eastern Daylight Time CHICAGO--(BUSINESS WIRE)--Cresco Labs (CSE:CL) (OTCQX:CRLBF) (FSE: 6CQ) (“Cresco” or “the Company”) and Columbia Care (NEO:CCHW) (CSE:CCHW) (OTCQX:CCHWF) (“Columbia Care”) today announced a mutual agreement, dated July 30, 2023, to amicably terminate the definitive…

Cannabis Xpress CEO Chris Jones Keeps it Simple

Utilizing a strategy that puts a road-less-traveled philosophy into literal practice, Toronto-based Cannabis Xpress has placed its current 14 (soon to be 15) cannabis retail stores in less-populated areas of Ontario that other retailers have all but ignored. The build-them-where-they-ain’t…

MSOs Make the Case for Immediate Inclusion in NY’s Adult-Use Market

March 16, 2023
Tom Hymes
Compliance and Regulations, News & Insights
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UPDATED In a report prepared by MPG Consulting on behalf of Acreage Holdings titled New York Illicit Cannabis Market Absorption Analysis, the multistate operator presents a series of arguments and accompanying scenarios that depict varying outcomes for success with respect…

Sean ‘Diddy’ Combs to Buy Cannabis Operations in New York, Two Other States for Up to $185 Million

November 4, 2022
AggregatedNews
Banking, Finance & Real Estate, Multiple State Operators, News & Insights
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Hip-hop mogul and entrepreneur is acquiring marijuana assets to be divested in merger of Cresco Labs and Columbia Care Sean “Diddy” Combs has agreed to purchase licensed marijuana operations in three states for up to $185 million, adding a new business…

Only a few cannabis workers in Illinois are unionized 2 years after full legalization. Organizers say corporate owners have put up fierce resistance.

December 2, 2021
AggregatedNews
Illinois
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Cannabis workers pushing to unionize amid complaints of low wages and rough working conditions claim they’ve faced stiff resistance from the corporate pot firms that employ them. In January of 2020, with the blessing of Democratic presidential candidate Bernie Sanders,…

Pot Stocks Are Flying High Again. It’s Not Just Reddit.

Some of the retail traders on Reddit’s WallStreetBets forum who helped spark GameStop stock’s brief parabolic pop have set their sights on public cannabis companies. Canadian grower Tilray (ticker: TLRY) jumped about 51% on Wednesday. Aphria (APHA), which has a deal to merge with Tilray, was up only…

Cresco Labs to Expand Into Florida Through Acquisition of Bluma Wellness Inc.

January 14, 2021
Press Release
Banking, Finance & Real Estate, Mergers & Acquisitions, Press Releases
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PRESS RELEASE The Company will now have meaningful operations in all 7 cannabis markets that fall within the top 10 most populated states in the U.S. CHICAGO – January 14, 2021 — Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or “the…

Cresco Labs Announces Accelerating Revenue and Increasing Operating Leverage in Record Second Quarter 2020 Results

PRESS RELEASE Record revenue of $94.3 million, 42% growth QoQ 30+% sequential revenue growth in all of the Company’s U.S. markets except Massachusetts Record adjusted EBITDA1 of $16.5 million, 419% growth QoQ Reduced SG&A by $1.5 million QoQ Wholesale revenue…

Cresco Labs Announces Retirement of Ken Amann and Appointment of Dennis Olis as Chief Financial Officer

PRESS RELEASE Mr. Amann to remain in an advisory role as part of the planned transition CHICAGO--(BUSINESS WIRE)--Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or “the Company”), one of the largest vertically integrated multistate cannabis operators in the United States, today announced…

Cresco Labs Announces the Appointment of National Basketball Players Association Executive Director and Renowned Trial Lawyer Michele Roberts to its Board of Directors

PRESS RELEASE Michele Roberts, National Basketball Players Association executive director and esteemed trial lawyer, joins Cresco Labs’ board. CHICAGO--(June 10, 2020)—Cresco Labs (CSE:CL)(OTCQX:CRLBF) (“Cresco” or “the Company”), one of the largest vertically integrated multistate cannabis operators in the United States,…

Managing People in the Growing Cannabis Industry

Being a chief people officer in the budding cannabis industry comes with unique challenges for Cresco's Angie Demchenko. Angie Demchenko has an eye for business and a mind for people, and this mindset is immediately reflected in the environment of…

Workers at the Cresco Labs marijuana grow facility in Joliet vote to unionize

Workers at the Cresco Labs marijuana grow facility in Joliet voted Tuesday to unionize, two weeks after recreational weed sales started in Illinois. Workers at the facility voted 58 to 32 to be represented by the United Food & Commercial…

Major pot production facility to vote on unionizing

About 100 workers at Cresco Labs in Joliet are eligible to vote today in an early test pro-labor provisions in Illinois' weed law. Will other pot employees follow? Count organized labor among those who see opportunity in the recreational weed…

Can Illinois draw marijuana tourists from out of state? Retailers take a gamble on border towns

September 30, 2019
AggregatedNews
Illinois
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Recreational marijuana sales are set to begin next year, and some of the potential store locations getting scouted suggest Illinoisans aren’t the only customers cannabis companies hope to attract. Amid the debate over proposed zoning rules that would ban weed…