Wrigley Gum Magnate Joins Cannabis Industry
[dropcap class=”kp-dropcap”]W[/dropcap]illiam “Beau” Wrigley Jr. left the Wrigley gum family empire and will soon tap into the lucrative cannabis industry. Announced in an Aug. 6 press release, Wrigley led a $65 million investment round for medical cannabis brand Surterra Wellness.
Wrigley, who formerly served as CEO of Wrigley Jr. Co., will serve as chairman of the board for Surterra Wellness. After securing a $65 million series C equity fundraising round, it brings the company’s total capital to $100 million. Georgia-based Surterra Wellness is behind ten dispensaries in Pensacola, Tallahassee, Tampa, North Port, Largo, Deltona, Jacksonville, Orlando, Port Orange and Miami Beach, Florida, and also holds a license in Texas.
“When I understood the massive benefits, it really changed my mind about the industry,” Wrigley told Bloomberg. “You don’t see too many opportunities to have that kind of an impact in an industry that is being created from scratch.”
Wrigley’s great-grandfather founded Wrigley Co. in 1891, and the family is still interesting in staking claims over large investments. The allure of the cannabis industry is unmistakable. “Everyone seems to be in there because they think they’re going to make tons of money,” Wrigley added. “Some will and some will be sorely surprised when they understand how complex it is.”
William “Beau” Wrigley, Jr. joined our Board of Directors as Chairman. Read more about this big announcement: https://t.co/fNanTFzwFz pic.twitter.com/cTCBUGXZ0q
— Surterra Wellness (@Surterra) August 6, 2018
“Surterra is proud to welcome Beau, a business leader who brings decades of world class experience and expertise in brand building, to Surterra Wellness,” Surterra CEO Jake Bergmann stated. “Having a seasoned industry veteran like Beau intimately involved in building Surterra’s business is exciting for the future of Surterra, our patients and the entire medical cannabis industry.” Surterra will conduct clinical trials of anxiety, pain and post-traumatic stress disorder (PTSD) drugs that contain cannabinoids.
