Cresco Labs, the Chicago-based multistate marijuana operator, said its acquisition of Canada’s Origin House, a major MJ distributor in California, is significantly closer to completion following further compliance with antitrust requirements.
The two companies are now set to compete the transaction by Nov. 15 at the latest.
Cresco agreed to acquire Origin House, based in Ottawa, Ontario, in a $823 million deal on April 1.
The transaction, like others in the U.S. marijuana industry, subsequently fell under U.S Department of Justice scrutiny for possible antitrust reasons, delaying the expected close.
Cresco said on Tuesday it has completed “substantial compliance with the request for additional information,” or second request, regarding the planned deal, as has Origin House.
There will now be an obligatory 30-day waiting period which will mean the parties are then free to close the transaction subject to any further DOJ action.
More details can be found here.
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Written by Nick Thomas
Marijuana Business Daily