Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or “the Company”), one of the largest vertically integrated, multistate cannabis operators in the United States, announced today that it has received approval from the Arizona Department of Health Services to serve adult-use customers at its Sunnyside dispensary in Phoenix. The Company is expected to launch adult-use sales in mid-February. On January 22nd, Arizona became the 12th state to begin serving adult-use cannabis customers, after a majority of residents voted in favor of the proposition last November.
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Cresco Labs announces approval for adult-use cannabis sales for its Sunnyside Phoenix dispensary (Photo: Business Wire)
“As a company, our strategy is to invest our resources in only the most strategic markets with appropriate regulations and strong consumer demand. For the last 10 years, not only has Arizona administered a responsible medical cannabis program, but has also garnered strong participation with more than 300,000 active patients,” said Charlie Bachtell, CEO and Co-founder of Cresco Labs. “Arizona is among 7 of our 10 states with run-rates of more than $1 billion and is now our 5th state to legalize adult-use. With the same playbook deployed in other states, we have invested in infrastructure, we are executing in cultivation, and we are accelerating the wholesale distribution of our branded products. Arizona has long been an important component of Cresco Labs’ strategic geographic footprint and we are thrilled to bring our portfolio of brands to more consumers at Sunnyside and at retail stores throughout the state.”
David Gacom, Regional President, West Region, added, “We are excited to welcome adult-use customers to Sunnyside Phoenix and look forward to serving them with the same enthusiasm and expertise as our Arizona medical patients. With our experience operating in states transitioning to adult-use sales, Cresco Labs has been looking forward to this historic new chapter in Arizona and we are committed to providing a seamless transition for new and existing customers alike.”
Cresco Labs’ Sunnyside dispensary is located at 2620 West Encanto Boulevard in Phoenix and is co-located with a state-of-the-art cultivation and processing facility. Cresco Labs’ wholesale strategy is also supported by another cultivation facility in Vicksburg, Arizona. For more information about Sunnyside and the launch of adult-use sales, visit Sunnyside.shop.
About Cresco Labs
Cresco Labs is one of the largest vertically integrated, multistate cannabis operators in the United States, with a mission to normalize and professionalize the cannabis industry. Employing a consumer-packaged goods (“CPG”) approach, Cresco Labs is the largest wholesaler of branded cannabis products in the U.S. Its brands are designed to meet the needs of all consumer segments and comprised of some of the most recognized and trusted brands including Cresco, Remedi, High Supply, Cresco Reserve, Good News, Wonder Wellness, FloraCal Farms and Mindy’s Chef Led Artisanal Edibles created by James Beard Award-winning chef Mindy Segal. Sunnyside, Cresco Labs’ national dispensary brand, is a wellness-focused retailer created to build trust, education and convenience for both existing and new cannabis consumers. Recognizing that the cannabis industry is poised to become one of the leading job creators in the country, Cresco Labs operates the industry’s largest Social Equity and Educational Development initiative, SEED, which was established to ensure that all members of society have the skills, knowledge and opportunity to work and own businesses in the cannabis industry. Learn more about Cresco Labs at CrescoLabs.com.
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