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Acreage Shareholder Cresco Supports Canopy Deal Amid Opposition

May 23, 2019, 2:13 PM

One of Acreage Holdings Inc.’s earliest shareholders has come out in favor of its sale to Canopy Growth Corp. as the target company’s shares languish well below the offer price.

Cresco Capital Partners LLC, which has owned Acreage since 2015, said the New York-based cannabis firm’s association with Canopy will give it a capital boost even before the closing of the deal, which is contingent on U.S. legalization.

“I think at the end of the day people will take a step back and realize that the positives far outweigh the negatives on this,” Matt Hawkins, founder and managing partner of...

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