Cresco Labs Inc. agreed to acquire PharmaCann Penn, LLC for $50 million, expanding its presence in Pennsylvania’s medical marijuana market. The deal includes nine operational retail dispensaries and will be settled via cash and a promissory note on a cash-free and debt-free basis, with a normalized target working capital level.
The acquisition positions Cresco Labs as both a retailer and wholesaler in Pennsylvania, where the medical cannabis market generated over $1.1 billion in annual sales in the prior year, according to Hoodie Analytics data cited in the release. Post-closing, Cresco Labs will maintain its cultivation and wholesale operations alongside its Sunnyside-branded dispensaries.
Cresco Labs CEO Charlie Bachtell stated the transaction is focused on allocating capital to opportunities that strengthen the company’s competitive position and generate attractive long-term returns. The acquisition follows a short-form base prospectus dated October 3, 2025, and a prospectus supplement dated January 29, 2026.
PharmaCann Penn, LLC operates under the Sunnyside brand, which is part of Cresco Labs’ portfolio of product brands including Cresco, High Supply, FloraCal, Good News, Wonder Wellness Co., Mindy's, and Remedi.
