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Chicago Sun-Times
Chicago Sun-Times
National
Mary Norkol

Weed giants Columbia Care, Cresco Labs call off plans for $2 billion merger

Cresco Labs Columbia Care Cresco GTI Illinois
People line up early Jan. 1, 2020, outside Sunnyside dispensary in Lake View on the first day of the legal sale of recreational marijuana in Illinois. The dispensary is owned by industry giant Cresco Labs. (Brian Rich/Sun-Times files)

Two cannabis industry leaders have halted a $2 billion merger plan, they announced Monday.

Chicago-based Cresco Labs and Columbia Care of New York originally announced plans to merge in March 2022 and released a revised version of the plan in March of this year, but the plans are no longer in effect as of Monday, according to a joint press release from the two companies.

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