William Wrigley Jr. II, 54, may sound like a familiar name. That’s if you are a fan of Wrigley chewing gum. The man is the one who helped orchestra selling the family business to Mars Inc. back in 2008.
This resulted in a $65 million investment round for Surterra Wellness, a company involved with medicinal marijuana in Georgia. The company operates 10 medical dispensaries in Florida, including one in Miami Beach, and has a license to operate in the nascent Texas market.
Surterra has said it has so far $100 million in funding.
Wrigley made his initial investment in Surterra last September and is upping his stake and assuming the role of chairman. The company marks his first direct investment in the marijuana industry.
“When I understood the massive benefits, it really changed my mind about the industry,” Wrigley remarked in an interview.
He added, “You don’t see too many opportunities to have that kind of an impact in an industry that is being created from scratch.”
