Who Owns Cresco Labs?
Cresco Labs is owned by Cresco Labs Inc., a publicly traded American cannabis company listed on the Canadian Securities Exchange under ticker CL and OTCQX under CRLBF. Founded in 2013 and headquartered in Chicago, Illinois, the company generated $659 million in trailing-twelve-month revenue through Q3 2026 and operates 89 Sunnyside dispensaries across eight states plus a wholesale portfolio of cannabis brands.
Who Owns Cresco Labs?
- Parent Company: Cresco Labs Inc.
- Ownership Type: Wholly owned
- Company Type: Publicly Traded
- Stock Ticker: Canadian Securities Exchange: CL
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Cresco Labs | Cresco Labs Inc. | Wholly owned |
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History of Cresco Labs
- Founded: 2013
- Founders: Charlie Bachtell, Joe Caltabiano, Dominic Sergi, Rob Sampson, Brian McCormack
Charlie Bachtell, Joe Caltabiano, Dominic Sergi, Rob Sampson, and Brian McCormack founded Cresco Labs in 2013 in Chicago, timing the launch to Illinois' new medical cannabis program. Bachtell, a lawyer, brought regulatory expertise that shaped the company's compliance-first strategy.
The company won early licenses in Illinois and expanded aggressively into other limited-license states, building a model around wholesale brand distribution plus retail stores under the Sunnyside name. In 2018, it went public on the Canadian Securities Exchange through a reverse takeover, joining the wave of U.S. cannabis companies forced north by federal prohibition.
Growth came through both licensing wins and acquisitions. The company bought into Pennsylvania, Ohio, Maryland, and other markets, while building its brand portfolio: Cresco for core products, High Supply for value flower and vapes, FloraCal for premium flower, Remedi for wellness products, Good News and Wonder Wellness Co. for newer consumer segments, and Mindy's for edibles created with chef Mindy Segal.
A transformational deal collapsed in 2023: the proposed $2 billion all-stock merger with Columbia Care, announced in 2022, was terminated in July 2023 after regulatory approvals stalled and cannabis sector valuations deteriorated. Both companies abandoned the deal, and Cresco paid a termination fee.
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Through 2024 and 2025, the company focused on operational efficiency and cash generation as the sector's capital markets stayed largely closed. Revenue for fiscal 2025 was $655.85 million, down 9.5 percent on price compression across key markets. The company acquired nine Pennsylvania dispensaries for $50 million in 2026, strengthening retail presence in one of its core states.
Federal cannabis reform gained momentum through 2025 and 2026, with a December 2025 executive order directing the DOJ to complete rescheduling, a process that would remove the punishing 280E tax burden and potentially enable U.S. exchange listings. Q3 2026 revenue of $173 million rose 5 percent year over year, and the company reported $26 million in operating cash flow.
About Cresco Labs Inc.
Is Cresco Labs publicly traded?
Yes. Cresco Labs trades on the Canadian Securities Exchange under ticker CL, on OTCQX under CRLBF, and on the Frankfurt exchange under 6CQ. Federal prohibition prevents listing on U.S. exchanges like the NYSE or NASDAQ.
When was Cresco Labs founded?
Charlie Bachtell, Joe Caltabiano, Dominic Sergi, Rob Sampson, and Brian McCormack founded the company in 2013 in Chicago, Illinois, coinciding with Illinois' medical cannabis program.
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Who owns Cresco Labs?
Cresco Labs is a widely held public company with shares distributed among public investors. Co-founder and CEO Charlie Bachtell and early investors hold meaningful insider positions.
What is Cresco Labs' annual revenue?
Fiscal 2025 revenue was $655.85 million, down 9.5 percent year over year. Trailing twelve-month revenue through Q3 2026 reached $659 million, with Q3 revenue of $173 million up 5 percent.
Where is Cresco Labs headquartered?
Cresco Labs Inc. is headquartered in Chicago, Illinois, USA, with operations across eight states where it holds cannabis licenses.
What brands does Cresco Labs own?
The portfolio includes Cresco, Sunnyside dispensaries, High Supply, FloraCal, Remedi, Good News, Mindy's edibles, and Wonder Wellness Co.
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- Founded: 2013
- Headquarters: Chicago, Illinois, USA
- Company Type: Publicly Traded
- Stock: Canadian Securities Exchange: CL
- Revenue: $655.85 million (FY2025)
- Employees: Approximately 3,000
Where Is Cresco Labs Made / Based?
- Headquarters: Chicago, Illinois, USA
- Manufacturing / Operations: United States
Cresco Labs Categories & Tags
Cresco Labs Sustainability & Ethics
The company operates under state cannabis regulations covering product testing, seed-to-sale tracking, and safety standards rather than federal oversight. It publishes corporate responsibility information covering social equity programs, community reinvestment in disproportionately impacted neighborhoods, and expungement support for cannabis-related convictions, programs required or encouraged in several of its license states. No B Corp or comparable certifications exist given the industry's regulatory status.
Awards & Recognition
Cresco products have won state-level cannabis cup awards across its operating markets, and the Sunnyside brand has received recognition for store design and customer experience. CEO Charlie Bachtell has been recognized on cannabis industry leadership lists, and the company has appeared on rankings of top multi-state operators by revenue and productivity.
Cresco Labs Recalls & Controversies
The terminated $2 billion Columbia Care merger in July 2023 was the company's largest strategic setback, ending a deal that would have made it the largest U.S. cannabis operator. Both parties walked away after regulatory delays and market deterioration made the terms untenable.
Product recalls have been limited to standard state-level actions covering testing failures or labeling issues, handled through state cannabis regulators in the normal course.
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The broader controversy is industry-wide: the company operates legally under state law while its product remains a Schedule I federal substance, creating banking constraints, punitive taxation under IRS section 280E, and the inability to list on U.S. exchanges.
Cresco Labs Ownership: Pros & Cons
Advantages
- +Vertically integrated model captures margin at cultivation, wholesale, and retail
- +Number one branded share in several billion-dollar state markets
- +Public listing provides capital access unavailable to private cannabis peers
- +Positioned to benefit directly from federal rescheduling and 280E relief
Considerations
- -Federal prohibition creates banking, tax, and listing constraints
- -Stock down more than 95 percent from peak levels amid sector-wide repricing
- -Price compression in mature markets pressures revenue and margins
- -Regulatory reform timing remains uncertain despite executive order momentum
Sources & Further Reading
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Competitors to Cresco Labs
No direct competitors found in the same category. This could be because Cresco Labsoperates in a unique market segment or we're still building our competitor database.
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Boots is privately owned, unlike Cresco Labs which is under a publicly traded parent company.
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Duane Reade is a New York City drugstore chain owned by Walgreen Co. under Sycamore Partners, operating approximately 90 stores across the five boroughs.
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Duane Reade is privately owned, unlike Cresco Labs which is under a publicly traded parent company.
Healthcare PharmaceuticalsKonsyl
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Konsyl is privately owned, unlike Cresco Labs which is under a publicly traded parent company.
Cresco Labs Inc. Stock Information
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