Cresco Labs Inc. announced plans to sell its California operations as part of a strategic restructuring aimed at boosting cash flow and focusing on higher-margin markets. The multistate cannabis operator is in talks with buyers for its cultivation, manufacturing, and select distribution assets in California, with a deal expected in the coming quarters. Cresco will retain its premium FloraCal brand, continuing its presence in key U.S. markets.
CEO Charlie Bachtell cited California’s “structural challenges” and the lack of a scaled footprint as reasons for the exit, saying the move will allow Cresco to reallocate capital to core and emerging markets with clearer growth potential.
