The Cure Penn medical marijuana dispensary in Phoenixville is one of its three dispensaries acquired by Chicago-based Cresco Labs. Ryan Mulligan covered the $90 million transaction for the Philadelphia Business Journal.

The cash and stock transaction is expected to close in the last quarter of 2021 for Bay LLC, which operates as Cure Penn. The company also has locations in Colorado and Oklahoma.

Cresco Labs already has a sizable presence in Pennsylvania, having recently entered the Philadelphia cannabis market. The company is also the owner of Sunnyside dispensaries, with four locations in the Keystone State.

“We’ve proven our ability to drive incremental top and bottom-line growth from the implementation of Sunnyside’s best-in-class operating model, and we look forward to growing our house of brands which are already among the most sought after by patients in Pennsylvania,” said Charlie Bachtell, CEO and co-founder of Cresco Labs.

The company has a portfolio of cannabis brands, such as High Supply and Good News.

It claims to be one of the top wholesalers of branded cannabis products in the nation. It currently has locations in 10 states, along with 20 production facilities.

Read more about the sale in the Philadelphia Business Journal.