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.

7 thoughts 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.

  2. Doc says:

    Medical Marijuana: Cannabis Extract CBD Used to Successfully Treat Psychosis (Newsweek) https://www.newsweek.com/cannabidiol-cannabis-extract-could-treat-symptoms-psychosis-1094353 “A single dose of cannabidiol (CBD), a chemical found in the cannabis plant, could help to ease symptoms of psychosis, according to a small study.
    CBD is a compound present in cannabis plants that is already used to treat rare childhood epilepsy. Unlike the psychoactive ingredient tetrahydrocannabinol (THC), it doesn’t make users feel high.
    The paper published in the journal JAMA Psychiatry is thought to be the first to show why cannabidiol might help those with psychotic symptoms. https://jamanetwork.com/journals/jamapsychiatry/fullarticle/2697762
    See also “Association of Cannabis Use With Adolescent Psychotic Symptoms” (JAMA Psychiatry) https://jamanetwork.com/journals/jamapsychiatry/article-abstract/2681642

  3. Soma® says:

    “Coca-Cola is eyeing a deal in the marijuana industry, and insiders say it’s a sign that other beverage giants may soon dive in” https://www.thisisinsider.com/coca-cola-cbd-marijuana-industry-2018-9 “…an analyst at Cowen, said in a note to clients that she “would not be surprised” to hear of a deal between PepsiCo and a cannabis company. CBD, which is known to have anti-inflammatory properties, would be a “good complement” to PepsiCo’s Gatorade franchise.”

  4. Hoser says:

    “The Berkshire Hathaway of cannabis companies benefits from other pot stocks’ rise” (Market Watch 9/26/18) https://www.marketwatch.com/story/aurora-cannabis-is-becoming-the-berkshire-hathaway-of-pot-2018-09-25?mod=MW_story_top_stories “Canada-based Aurora Cannabis Inc. tripled its revenue thanks to bigger weed sales in the final quarter of its fiscal year, but the pot producer’s profit gains were mostly the result of a different business: investing in other marijuana companies.
    Canadian cannabis stocks have been soaring of late, as the country prepares to fully legalize the drug for adult recreational consumption on Oct. 17.” https://www.marketwatch.com/story/cannabis-stocks-surge-fueled-by-earnings-investments-and-bullish-analyst-comments-2018-09-25

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