Cresco Acquires Bluma For $213M, Extends 'Strategic Footprint' To Florida Market

Cannabis company Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) is poised to take over Florida-based Bluma Wellness Inc. (CSE: BWEL.U) (OTCQX: BMWLF) in an all-share transaction worth $213 million.

The Chicago-based company agreed to acquire all Bluma’s issued and outstanding shares, while Bluma’s shareholders will obtain 0.0859 of Cresco’s subordinate voting share for each Bluma share held.

Each Bluma share is priced at $1.12.

The closing of the acquisition is subject to the Bluma shareholder’s approval, as well …

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