Cresco Labs finally closes deal to acquire Origin House

After more than nine months of waiting, Cresco Labs (CSE:CL) has finally closed its deal to acquire Origin House. The U.S. cannabis operator said in a statement on Wednesday that it closed the deal following several months of delays caused by a review from the U.S. Department of Justice’s antitrust division.

The deal, valued at about half of the initially reported USD$1.1 billion, now gives Cresco Labs a firm foothold in California – one of the biggest legal cannabis markets in the world.

Upon closing, Origin House shareholders will receive 0.7031 subordinate voting shares of Cresco for each Origin House share they hold. Origin House CEO Marc Lustig is also expected to join Cresco’s board of directors.

For full press release, click here.