Cresco Labs Inc (OTCMKTS: CRLBF) recently announced plans to acquire Columbia Care Inc (OTCMKTS: CCHWF), marking another round of industrial consolidation in the cannabis sector.

Cresco CEO Charlie Bachtell, a keynote speaker at the 2022 Benzinga Cannabis Capital Conference, said on Tuesday that the acquisition is imperative to its strategic rapid footprint, as Cresco now has a presence in 18 markets.

“We’re executing our thesis and our strategy, which is to build the most strategic geographic footprint that we can,” Bachtell said. “When we bring the Columbia Care footprint and …

Full story available on Benzinga.com