Sean ‘Diddy’ Combs acquires Massachusetts marijuana operations in $185M deal
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Rapper and entrepreneur Sean “Diddy” Combs is acquiring marijuana operations in Massachusetts as part of deal that is worth up to $185 million.
In his pursuit to establish the largest Black-owned cannabis company in the world, Combs recently announced the acquisition of Cresco and Columbia Care assets in Greenfield, Worcester, and Leicester.
In a statement, Combs said, “My mission has always been to create opportunities for Black entrepreneurs in industries where we’ve traditionally been denied access, and this acquisition provides the immediate scale and impact needed to create a more equitable future in cannabis.”
Combs noted that his assets will give him the ability to grow and manufacture cannabis products for wholesale and distribution to licensed dispensaries in major metropolitan areas.
Combs is also taking over operations in New York and Illinois.
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