Cresco Labs Acquires Columbia Care in US$2-billion Deal

Bennett Jones is acting as Canadian legal advisor to Cresco Labs in its acquisition of Columbia Care Inc. for approximately US$2 billion. The transformational deal will combine best-in-class wholesale, retail and operations with an expanded strategic footprint in the largest and fastest growing markets in cannabis.

The Bennett Jones deal team, led by Aaron Sonshine and Kris Hanc (M&A), includes Eric Chernin, Bronwynn Shaw, Jonathan Filippone, Chelsea Hatton, Kate McGrath (M&A), David Rotchtin, Oliver Loxley, Elie Freedman, Daniel Tessaro, Karly Descoteaux, Hussein Rehmanji (Debt Financing), Jim Morand, Hennadiy Kutsenko (Tax), and Adam Kalbfleisch, Zirjan Derwa and Alysha Pannu (Competition/Antitrust).

Under the terms of the definitive arrangement agreement, shareholders of Columbia Care will receive 0.5579 of a subordinate voting share of Cresco Labs for each Columbia Care common share (or equivalent) held, subject to adjustment. More details are available in Cresco's press release.

Bennett Jones' Cannabis group consists of a team of dedicated legal professionals focused on providing services and expertise designed to enhance the prospects of our cannabis clients. The team delivers high-quality legal services with an entrepreneurial approach.