Cresco Labs Inc. has announced plans to open five more dispensaries in Illinois after the state legalized recreational cannabis last month.
Illinois Governor JB Prtizker on June 25 signed into law the legal adult use of cannabis beginning Jan. 1, 2020. The law allows cannabis retail companies to operate up to 10 dispensaries in the state.
Cresco Labs, which already operates five dispensaries in Illinois, plans to have five more dispensaries operational by Jan. 1. The company also operates three cultivation centers, with an expansion of its Lincoln facility underway.
“The legalization of adult-use cannabis and the recent expansion of the state’s medical-use program are expected to dramatically increase the consumer base in Illinois and result in annual sales of $2 billion to $4 billion as the market matures,” said Cresco Labs CEO and Co-Founder Charlie Bachtell. “We are making excellent progress on our plans to serve the expanded consumer base, maintain our market leading position in Illinois, and capitalize on the significant growth opportunities available to Cresco.”
Cresco Labs distributes a suite of wholesale brands to every retail dispensary in Illinois that includes Cresco, remedi and Reserve. The company also offers edibles under two brands — Mindy’s Artisanal Edibles and Mindy’s Kitchen — that feature desserts and confections created by James Beard Award-winning chef Mindy Segal.