Last Updated on 08/06/2023 by てんしょく飯
Rapper Diddy’s huge contract for cannabis business seems to have fallen through. Sean Combs, aka Diddy, was supposed to buy cannabis companies Cresco Labs and Columbia Care, but the deal fell apart.
Sources told TMZ that shareholders could not agree on the proposed transaction, and Diddy’s deal was terminated earlier this week.
On the other hand, Diddy’s firm is still keen on pursuing business opportunities related to the cannabis business, the source said, adding, “Combs Global Empire remains very interested in the opportunity to diversify the cannabis industry. We need to find something that makes perfect sense,” he revealed.
According to TMZ, this week’s deal would have seen Diddy acquire stores in New York, Massachusetts, and Illinois, each with their own production facilities. If realized, he could have become the owner of the world’s largest marijuana business.
Diddy had previously stated that he was eager to create opportunities for black entrepreneurs and others in an industry that had been inaccessible. Stating that it is his mission to create an equitable future for cannabis businesses, Diddy said, “Owning the entire process from cultivation, manufacturing, marketing, sales, and wholesale distribution is a historic victory in this culture. We’re cultivating diverse leaders through the ecosystem and advocating for inclusivity on a large scale.”
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