Chew on this: a name once considered the biggest name in the chewing gum business is now associated with cannabis.
William “Beau” Wrigley, Jr., former president of the company behind Wrigley gum has been named chairman of the board at Surterra Wellness.
The company, which operates in Florida and Texas, said this week that Wrigley’s investment arm led a fundraising round that closed last month that brought in $65 million, bringing to more than $100 million the amount of capital the company has raised just since 2015.
“I am thrilled to join the Surterra team and help drive their mission to build a best-in-class cannabis healthcare business,” Wrigley said in press release. “After extensive diligence, we determined that Surterra has the highest quality standards, best products, and most professional management team in the industry. We believe in the ability of cannabis to improve quality of life for patients across the country, and we are excited to build a global industry leader for the long term.”
Surterra Wellness has licenses in Florida, operating dispensaries in several cities around the state, as well as distribution centers and cultivation space. It also has licenses in Texas, and is planning to expand into other states. It sells cannabis that can be delivered through vaporizer pens, tinctures, topical creams, patches and other items.
Wrigley led the Wrigley Company’s expansion of its product portfolio, including the acquisitions of Altoids and LifeSavers and now is president of investment company Wychwood Asset Management.
“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 said in a statement. “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.”