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.


Business2 days ago

Sundial Growers Inc (NASDAQ:SNDL) Inks An Equity Sale Accord With ATB Capital Markets And Canaccord Genuity To Raise Maximum Of $800 Million: Reports $13.9 Million In Revenues In Q4 2020

Post Views: 248 Sundial Growers Inc (NASDAQ:SNDL) inked a stock sale agreement with ATB Capital Markets and Canaccord Genuity agents....

Business3 days ago

High Tide Inc (OTCMKTS:HITIF) Posts Impressive Growth Of 17% In Revenues In Q1 2021

Post Views: 582 High Tide Inc (OTCMKTS:HITIF) reported revenues of $38.3 million (up 179% YoY) in Q1 2021. It included...

Business4 days ago

Heritage Cannabis Holdings Corp (OTCMKTS:HERTF) Reports CAD 1.827 Million Revenues In Q1 2021

Post Views: 280 Heritage Cannabis Holdings Corp (OTCMKTS:HERTF) reported revenues of CAD 1.827 million (down 54.41% YoY) in Q1 2021....

Business5 days ago

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

Post Views: 306 Cresco Labs Inc (OTCMKTS:CRLBF) reported a growth of 6% QoQ to $162.3 million in Q4 2020. Its...

Business6 days ago

Tauriga Sciences Inc (OTCMKTS:TAUG) Inks A Pact With Coalition Technologies To Improve SEO Metrics: Converts US PPA To Non US PPA

Post Views: 330 Tauriga Sciences Inc (OTCMKTS:TAUG) signed an agreement with Coalition Technologies to enhance its SEO (search engine optimization)...

Business1 week ago

Medipharm Labs Corporation (OTCMKTS:MEDIF) Expands Its Innovative Branded Products Line With Launch Of New Formulations

Post Views: 366 Medipharm Labs Corporation (OTCMKTS:MEDIF) has announced the expansion of its innovative Pharma-quality family branded products with the...