JEFFERSON PARK — A Far Northwest Side dispensary could soon have a new owner: rapper, producer and entrepreneur Sean “Diddy” Combs.
Combs, 53, announced last week he’s getting into the cannabis industry, agreeing to buy nine cannabis stores and three production facilities for $185 million. Among them is Cannabist, 4758 N. Milwaukee Ave.
If the deal goes through, Combs also would be the owner of a dispensary in suburban Villa Park, an Aurora production facility and stores in New York and Massachusetts, according to a news release.
The entrepreneur’s company, Combs Enterprises, would buy the facilities from Cresco Labs, which is merging with Columbia Care, the companies announced in March. Columbia Care owns Cannabist.
Combs’ deal would create the country’s first “minority-owned and -operated, vertically integrated multi-state operator” in the industry and work to address issues of cannabis injustice that disproportionately affect Black and Brown communities, according to Cresco Labs.
“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 said in a statement.
2% of an industry? The industry should be ashamed. The