Diddy Buys Multiple Cannabis Companies for $185 Million
[ad_1] Diddy is now in the cannabis business. The music mogul has bought marijuana operations in three states for $185 million to create the largest Black-owned cannabis company in the world.On Friday (Nov. 4), Diddy announced that he has agreed to acquire licensed cannabis operations in New York, Massachusetts and Illinois from Cresco Labs, the No. 1 U.S. wholesaler of branded cannabis, and Columbia Care, for $185 million. If approved by U.S. and state regulators, it will create the nation's first minority-owned and operated, vertically integrated multi-state operator in the world.Diddy's investment will affirm his commitment to the economic inclusion of underrepresented groups in the cannabis industry. The Bad Boy Records founder says...