Former Wrigley CEO Moves From Chewing Gum to Medical Marijuana


Bloomberg/Roussakis

❝ The scion of a family that made a fortune in chewing gum is moving into pot…William Wrigley Jr. II, who helped orchestrate the sale of his family’s business to Mars Inc. in 2008, led a $65 million investment round for Surterra Wellness, a medical cannabis startup in Georgia with licenses to operate in Florida and Texas. The funding brings the total raised so far to $100 million, according to Surterra.

Wrigley, 54, who left the gum and candy business after the sale, backs companies through a personal investment arm based in West Palm Beach, Florida. After an initial investment in Surterra in September, Wrigley is boosting his stake and assuming the role of chairman…

❝ Wrigley…said he got into the industry mainly because of marijuana’s medical benefits. He said he’s tapping his experience with product distribution and brand-building to drive growth at Surterra. The cannabis company operates 10 medical dispensaries in Florida, including one in Miami Beach, and has a license to operate in the nascent Texas market.

Too bad there aren’t more than a handful of folks in that intellectual desert known as Congress who might support businesses like this nationwide. Much less lose the archaic regulation of personal cannabis consumption as if it was the Devil’s own candy.

One thought on “Former Wrigley CEO Moves From Chewing Gum to Medical Marijuana

  1. Aldous says:

    Corona beer maker Constellation ups bet on cannabis with $4 billion investment in Canopy Growth https://www.cnbc.com/2018/08/15/corona-maker-constellation-ups-bet-on-cannabis-with-4-billion-investm.html The maker of Corona and Modelo beer raises its stake in the Canadian cannabis producer to 38 percent from 9.9 percent. Canopy Growth CEO Bruce Linton says he optimistic about cannabis-infused beverages and sleep aids. Constellation is not planning to sell a drinkable cannabis product in the U.S. before legalization happens across the nation, but it may begin doing so in Canada next year.

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