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 country’s first minority-owned and operated, vertically integrated multi-state (cannabis) operator.” The transaction is a part of a $185 million deal via which Combs Enterprises is buying belongings 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 assets offer the Combs’ team significant market presence, enabling them to make the most impact on the industry as a whole,” Columbia Care CEO and co-founder Nicholas Vita mentioned within the assertion. “It’s been clear to us that Sean has the right team to carry on the strong legacy of these Columbia Care and Cresco Labs facilities, and we can’t wait to see how he helps shape the cannabis industry going forward through his entrepreneurial leadership and innovation.”

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

“My mission has always been to create opportunities for Black entrepreneurs in industries where we’ve traditionally been denied access, and this acquisition provides the immediate scale and impact needed to create a more equitable future in cannabis,” Combs, chair and CEO of Combs Enterprises, mentioned within the assertion. “Owning the entire process — from growing and manufacturing to marketing, retail and wholesale distribution — is a historic win for the culture that will allow us to empower diverse leaders throughout the ecosystem and be bold advocates for inclusion.”

Cresco Labs and Columbia Care cited Combs’ spectacular resumé as trigger for pleasure. The assertion acknowledges Combs as “one of the most successful entrepreneurs and cultural icons of all time” who boasts “a diverse portfolio of business and investments covering the music, fashion, fragrance, beverage, marketing, film, television and media industries.”

“We think he’s going to do some really incredible work in this space based on his entrepreneurial spirit and proven track record,” Adam Goers, Columbia Care’s senior vp of company affairs, wrote in an electronic mail.

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

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

“When thinking about this divestiture, we wanted someone with a similar passion and intent to create a more inclusive industry,” Goers wrote. “We look forward to watching the impact he brings to the cannabis industry in Massachusetts and beyond.”

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 modifications or disruptions to service within the meantime.

“We run a really great dispensary here,” she mentioned. “As long as that continues, that’s all we care about.”

“We hope the local community will be as excited about Combs Enterprises as we are,” Goers added. “We want the industry to succeed and felt that this was a strategic move to help make that a reality. From an operational standpoint, it’s business as usual until this deal closes.”

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