Connect with us


Cresco Labs Inc (OTCMKTS:CRLBF) Reports Revenues Of $162.3 Million In Q4 2020: Adjusted EBITDA Increases 8% To $50 Million in Q4 2020



Cresco Labs Inc (OTCMKTS:CRLBF) reported a growth of 6% QoQ to $162.3 million in Q4 2020. Its full-year revenues in 2020 are $476.3 million (up 271% YoY). It is on the backdrop of reporting sequential growth in same-store sales and cultivation expansion in Pennsylvania and Illinois.

Cresco extended the maturity of its senior secured term on December 14, 2020, to 2023 by closing an accord with the lenders. The deal helped the company to extend the facility to $200 million.

Signs a pact to clinch Bluma Wellness Inc

Cresco signed an agreement to takeover Bluma Wellness Inc (OTCMKTS:BMWLF) for $213 million. It is an all-stock transaction.

CEO of Cresco, Charles Bachtell, said the company’s main aim is to expand its presence and strengthen its market leadership in each state. With the takeover of Florida operations of Bluma, Cresco enhanced its footprint in 7 of the 10 states in the US.

Cresco selected Bluma, which has the right tools and experience in promoting an effective delivery in Florida, to expand its operations in the state and improve growth.

Cresco has incredible expertise and experience in integrating the assets, boost fundamentals, and enhance its share in key cannabis markets. In 2020, the company showed its capability in the execution of high-quality cultivation. Cresco uses the same technique to expand its presence in vital markets in 2021 in states like the sunshine state – Florida.

The CEO of Bluma, Brady Cobb, said its scaled delivery platform, high-quality cultivation operations, and retail investments combined with Cresco’s proven execution capabilities, help promote growth in Florida.

One Plant Florida, the subsidiary of Bluma, maintains dispensaries in 7 strategic locations. Its plans are ON to add 8 more locations. The company ranks second highest in the sale of smokable flowers in the state.

One Plant derives 15% of its revenues from the delivery of cannabis products in states like Florida. It also maintains a cultivation space on a 54,000 sq. Ft cultivation area. The company maintains 15 delivery vehicles in its fleet to offer round-the-clock service.

Cresco raised a capital of $125 million on January 15, 2021.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.


Business3 hours ago

NewAge Inc Unveils New Adolescents’ Multivitamin with Healthier Assimilation for Resistant System Sustenance

Post Views: 2 Newage Inc (NASDAQ: NBEV), the Colorado-based biological and healthy products business, proclaimed today the introduction of Nutrifii...

Business2 months ago

NewAge Inc. (NASDAQ:NBEV) Expanding Its Operations In Europe As Lucim™ Gets Recognition As A Safe Skincare Product

Post Views: 580 NewAge Inc. (NASDAQ:NBEV) announced a record net revenue increase in Europe, record attendance at its virtual events,...

Business2 months ago

ILUS International Inc. (OTCMKTS:ILUS) Appoints New Marketing Director Dejana Radonjic To Help With Global Marketing

Post Views: 525 ILUS International Inc. (OTCMKTS:ILUS) seems more focused on making new acquisitions, with about two accomplished within its...

Business2 months ago

Conservative Broadcast Media Journalism (OTCMKTS:CBMJ) Reports Revenues Of $2.4 Million In 2020

Post Views: 576 Conservative Broadcast Media Journalism (OTCMKTS:CBMJ) posted a robust growth of 118% YoY to $2.4 million in 2020. Development...


Cannabics Pharmaceuticals (OTCMKTS:CNBX) Initiates RCC-33 Dose-Response Study, And Cresco Labs (OTCMKTS:CRLBF) Launches Wonder Wellness Gummies

Post Views: 559 Cannabics Pharmaceuticals (OTCMKTS:CNBX) has announced that it will initiate a Dose-Response in-vivo Study in mice whose data...


Curaleaf Holdings Inc. (OTCMKTS:CURLF) Rebrands And Opens New Locations In Pennsylvania And Illinois

Post Views: 608 Curaleaf Holdings Inc. (OTCMKTS:CURLF) has announced new Curaleaf branding for its recently acquired retail locations and the...