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. Surterra is his first direct investment in the marijuana industry.
– Read the entire article at Bloomberg.