Diddy to buy Cresco, Columbia Care marijuana assets for up to $185 million

The hip-hop mogul has agreed to pay up to $185 million in a deal to acquire Cresco Labs Inc. and Columbia Care Inc.

The deal will also create the “world’s largest Black-owned cannabis company.

“My mission has always been to create opportunities for Black entrepreneurs in industries where we’ve traditionally been denied access,” Diddy, via press release.

The deal includes nine retail stores and three production facilities across New York, Massachusetts and Illinois.

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