Daily Dose Ep. 12 - Sean ‘Diddy’ Combs Agrees to Purchase Cresco Labs and Columbia Care

On today’s episode we focus on a headline from Ganjapreneur: Sean ‘Diddy’ Combs Agrees to Purchase Cresco Labs and Columbia Care

https://www.ganjapreneur.com/sean-diddy-combs-agrees-to-purchase-cresco-labs-and-columbia-care/

Here’s the breakdown:

Sean "Diddy" Combs has agreed to purchase the cannabis operations of Cresco Labs Inc. and Columbia Care Inc. for up to $185m in cash and debt financing. The deal covers nine retail stores and three production facilities in New York, Massachusetts, and Illinois, and is subject to regulatory approval and the divestment of assets in several states. The deal is significant given that Black-owned businesses comprise just 2% of the approximately 40,000 cannabis companies in the US, according to Leafly, and because Black people in the US were 3.6 times more likely to be arrested for cannabis possession between 2010 and 2018, despite similar rates of use, according to data from the American Civil Liberties Union.