Buchanan Ingersoll & Rooney advised Cure Penn on the deal.
Cure Penn announced the sale of three dispensaries located in Lancaster, Philadelphia and Phoenixville, Pennsylvania to multi-state cannabis operator and wholesaler Cresco Labs in a deal worth roughly $90 million. Cresco Labs will acquire 100% of the equity assets of the three dispensaries.
The transaction will be completed on a cash-free, debt-free basis through a cash-and-stock payment.
Cresco Labs is one of the largest vertically integrated multistate cannabis operators in the United States, with a mission to normalize and professionalize the cannabis industry.
The Buchanan team was led by Andrew Giorgione (Picture) and David Monaghan.
Law Firms: Buchanan Ingersoll & Rooney;
Clients: Cure Penn;