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The Recorder – Leisure icon Sean ‘Diddy’ Combs shopping for Greenfield marijuana dispensary

Printed: 11/24/2022 4:27:39 PM

Modified: 11/24/2022 4:27:29 PM

GREENFIELD — In a push to create the most important Black-owned marijuana firm on this planet, businessman and leisure icon Sean “Diddy” Combs has agreed to purchase Greenfield’s Patriot Care dispensary.

Columbia Care, which owns Patriot Care, and Combs Enterprises launched a collaborative assertion earlier this month framing the pending deal as a transfer that “will create the nation’s first minority-owned and operated, vertically built-in multi-state (hashish) operator.” The transaction is a part of a $185 million deal by means of which Combs Enterprises is buying property in New York, Illinois and Massachusetts from Cresco Labs and Columbia Care. Acquisition of Patriot Care makes Greenfield one of many deal’s three concerned Massachusetts communities, becoming a member of Worcester and Leicester.

“These property provide the Combs’ staff vital market presence, enabling them to take advantage of affect on the trade as an entire,” Columbia Care CEO and co-founder Nicholas Vita mentioned within the assertion. “It has been clear to us that Sean has the fitting staff to hold on the robust legacy of those Columbia Care and Cresco Labs amenities, and we won’t wait to see how he helps form the hashish trade going ahead by means of his entrepreneurial management and innovation from him.”

The assertion notes that hashish is the nation’s fastest-growing trade. Apart from being a profitable enterprise enterprise, the deal is a significant step towards social fairness, Combs emphasised.

“My mission has at all times been to create alternatives for Black entrepreneurs in industries the place we have historically been denied entry, and this acquisition offers the instant scale and affect wanted to create a extra equitable future in hashish,” Combs, chair and CEO of Combs Enterprises, mentioned within the assertion. “Proudly owning the whole course of — from rising and manufacturing to advertising and marketing, retail and wholesale distribution — is a historic win for the tradition that may permit us to empower numerous leaders all through the ecosystem and be daring advocates for inclusion.”

Cresco Labs and Columbia Care cited Combs’ spectacular resume as trigger for pleasure. The assertion acknowledges Combs as “some of the profitable entrepreneurs and cultural icons of all time” who boasts “a various portfolio of enterprise and investments protecting the music, vogue, perfume, beverage, advertising and marketing, movie, tv and media industries.”

“We predict he will do some actually unimaginable work on this house based mostly on his entrepreneurial spirit and confirmed observe report,” Adam Goers, Columbia Care’s senior vice chairman of company affairs, wrote in an e-mail.

“We’re all fairly excited,” mentioned Nicole Rannikko, normal supervisor of Patriot Care. “We hope it brings new issues.”

Goers added that these at Columbia Care “completely see the necessity for” Combs’ mission to uplift Black entrepreneurs and diversify the hashish trade.

“When desirous about this divestiture, we wished somebody with an analogous ardour and intent to create a extra inclusive trade,” Goers wrote. “We stay up for watching the affect he brings to the hashish trade in Massachusetts and past.”

Rannikko mentioned her firm is hopeful the deal will be finalized by early subsequent yr. She mentioned Patriot Care has not been made conscious of any potential adjustments or disruptions to service within the meantime.

“We run a extremely nice dispensary right here,” she mentioned. “So long as that continues, that is all we care about.”

“We hope the area people will probably be as enthusiastic about Combs Enterprises as we’re,” Goers added. “We wished the trade to succeed and felt that this was a strategic transfer to assist make {that a} actuality. From an operational standpoint, it is enterprise as typical till this deal closes.”

Attain Julian Mendoza at 413-930-4231 or jmendoza@recorder.com.

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