Rapper Sean 'Diddy' Combs could become a dominant African American player in the cannabis industry.
Rapper Sean "Diddy" Combs could become a dominant African American player in the cannabis industry with a pending deal for production and retail outlets in the Chicago area and in New York and Massachusetts.
Cresco said the sale makes Combs the nation's first Black investor in marijuana with multistate operations and would create the largest Black-owned business in cannabis. Through his Combs Enterprises, the rapper's other business interests include entertainment, fashion, liquor and media.
Aside from Chicago, the deal gives Combs a presence in the New York City and Boston markets. He would get retail and production assets in New York and Massachusetts from Cresco or Columbia Care.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sean 'Diddy' Combs enters multi-million-dollar purchase of largest U.S. cannabis companyHip Hop mogul Sean 'Diddy' Combs enters a tentative agreement to purchase the largest U.S. wholesaler of branded cannabis, Cresco Labs.
Read more »
Sean ‘Diddy' Combs to Acquire Cannabis Businesses for Up to $185MThe deal marks Combs' first investment in cannabis and will create the world's largest Black-owned cannabis company, according to a release.
Read more »
Rap mogul Sean ‘Diddy’ Combs is expanding into legal cannabis in three different statesRap and business mogul Sean Combs, known otherwise as 'Diddy', has agreed to purchase legal cannabis operations in multiple states for $185 million.
Read more »
Sean Combs seeks to boost minority representation in cannabis with $185 million dealRap music mogul Sean “Diddy” Combs plans to pay up to $185 million to create the first multi-state cannabis operator in the U.S. owned by an African American, Cresco Labs Inc. and Columbia Care Inc. confirmed.
Read more »