Foley Hoag Advises Cultivate in Sale to Cresco Labs Worth Up to $158M
March 24, 2021
Foley Hoag LLP represented Cultivate Holdings in executing a definitive agreement to sell 100% of its business to Cresco Labs (CSE:CL) (OTCQX:CRLBF), for upfront consideration equal to $90 million plus an earnout of up to $68 million. At closing, the acquisition will be the second-largest cannabis transaction ever in Massachusetts, and will immediately vault Cresco Labs to a top three leadership position in the state. Upon completion of planned expansions, combined operations will include 100,000 square feet of active canopy, three adult-use dispensaries and three medical dispensaries.
MA-based Cultivate is focused on growing premium flower, offering a full suite of branded products, delivering the best customer experience at retail, and elevating the cannabis industry to a new level of professionalism and social responsibility.
Foley Hoag attorneys Erica Rice, Jesse Alderman, Jason Roche, Shir Wisenberg, Kip Cawley, Teresa Martland, Austin Ownbey, Jonathan Keselenko, Jeffrey Ganguly, Joshua Jarvis, Jeremy Meisinger, Stacie Aarestad and Ryan Rourke Reed represented Cultivate in the transaction.
We use cookies to enhance user experience, improve functionality and performance, and for analysis of website traffic. By clicking “accept”, you agree to the use of cookies. For more information about our cookie policy and the information we collect, please review our Privacy Statement.
Foley Hoag
Email Disclaimer
Transmitting information to us by e-mail unilaterally does not establish an attorney-client relationship or impose an obligation on either the law firm or even the receiving lawyer to keep the transmitted information confidential. By clicking "OK," you acknowledge that we have no obligation to maintain the confidentiality of any information you submit to us unless we already represent you or unless we have agreed to receive limited confidential material/information from you as a prospective client. Thus, if you are not a client or someone we have agreed to consider as a prospective client, information you submit to us by e-mail may be disclosed to others or used against you.
If you would like to discuss becoming a client, please contact one of our attorneys to arrange for a meeting or telephone conference. If you wish to disclose confidential information to a lawyer in the firm before an attorney-client relationship is established, the protections that the law firm will provide to such information from a prospective client should be discussed before such information is submitted. Thank you for your interest in Foley Hoag.
