Cultivate Holdings, owner of the Leicester marijuna dispensary that was one of the first of its kind to open in Massachusetts, has been bought by Cresco Labs of Chicago.
The deal, which had been in the works for months, closed Friday, according to the buyer.
Besides Leicester, there are Cultivate operations in Worcester and Framingham.
“The closing today constitutes another important step for Cresco Labs as we deepen our presence in large, attractive states like Massachusetts,” Charlie Bachtell, Cresco Labs CEO and co-founder, said in a Facebook post.
In the spring, when the pending deal was made public, the sale price was $158 million.
In November 2018, the opening of the Leicester dispensary was followed by long lines and headlines. The store was one of two dispensaries, the other in Northampton, that opened on the first day of allowed adult-use sales in Massachusetts.
Bud Digest[otw_is sidebar=otw-sidebar-8]