Big week for Cresco
Later this morning, Chicago-based Cresco Labs will open the first cannabis dispensary to operate in downtown Chicago. The 436 N. Clark Street location for SunnySide follows the opening of a downstate Danville SunnySide location. The company also this week announced it had acquired four medical dispensary locations in Ohio.
Green Thumb opens Niles Rise location
While Chicago-based Green Thumb Industries was busy wielding influence in Springfield earlier this week, the company plans to open a Rise dispensary a stone’s throw from Chicago in suburban Niles today. This marks the 7th Illinois-based dispensary for the company.
Politico published a deep dive account of the rise and fall of California-based MedMen, the first cannabis company that achieved a one billion dollar valuation but is now shuffling along through virtual bankruptcy. MedMen was to acquire Chicago-based PharmaCann last year for nearly $700 million, mostly in stock. It’s a tail of two zealous entrepreneurs that maybe had too much too fast.
How did the non-intoxicating cousin of whacky tobaccy become a multibillion dollar industry? The New York Times in its Sunday Review this past weekend published “A Hidden Origin Story of the CBD Craze”.