Wrigley chewing gum company’s former head, William Wrigley Jr, has been crowned as chairman of Surterra Wellness board of directors after an investment of $65 million in the medical marijuana company.
Previously the brand was seen expanding its portfolio through acquisitions including Altoids and LifeSavers, reaching to people of 180 different countries.
The company being sold to Mars in 2008, has its US and global headquarters situated in New Jersey and Chicago, respectively. Wrigley has already invested around $100 million to Surterra through his firm Wychwood Asset Management.
Wrigley says, “He believes in the ability of cannabis to improve the quality of life for patients and Surterra has the highest quality standards, best products, and most professional management team in the industry.”
Surterra is planning to use the funds across a various strategic opportunities, including constructing substantial cultivation space in Florida, executing multiple partnerships with premium consumer brands. The company is planning to conduct research trials related to cannabinoid treatment of anxiety, pain, and other disorders.