Cresco Labs (CL.C) brings Good News to the adult-use markets in Michigan

Good News
12/18/2020

Cresco Labs (CL.C) expanded their Good News brand of gummy edibles into Michigan today, according to a press release.

The State of Michigan, despite its staid, blue-collar reputation, is home to a strong adult-use cannabis market and a growing medical program with nearly $600 million in cannabis sales to date, according to Headset.

“Since receiving our medical processing licence in March, 2020, and launching recreational sales in June, we have remained committed to our strategy of prioritizing wholesale distribution and I’m proud of our Michigan team for creating an outstanding operation that supports our brands and products. Michigan is a sophisticated market, and we believe our growth speaks to the quality and variety of the brands and products that we are offering to our dispensary partners, patients and customers. We are investing resources in the most strategic markets, and we continue to be excited about the growth potential of Michigan’s cannabis program,” said Charlie Bachtell, chief executive officer and co-founder of Cresco Labs.

Good News includes gummy edibles, which will soon be available throughout the state. The gummies will be sold in mood-centric formulations such as Me Time (indica), Brunch (hybrid), Friyay (sativa) and Vegas (sativa).

Michigan legalized adult-use cannabis in December of 2019, becoming the 10th U.S. state to do so, and within the first eight months of this year, their adult-use and medical markets have made $281 million and in excess of $313 million respectively, totalling $595 million in cannabis sales, according to data from Headset.

“We’re thrilled to bring Good News to Michigan — it will be our fifth brand available to medical patients and recreational consumers. Our Mindy’s Chef Led Artisanal Edibles and High Supply brands are performing well, with consumers appreciating a low-dose edible option from Mindy’s and more affordable, quality vapes from High Supply. In addition, our customers are enjoying our Cresco liquid live-resin vape cartridges, which are unique and differentiated from other live resin products in market today because they represent the purest form of the plant and deliver premium quality and flavour. We are proud to offer more choice with the debut of a higher dose edible option from our Good News brand,” said Nick Fallon, general manager for Michigan.

—Joseph Morton

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