Wrigley Billionaire Named CEO of Medical Pot Company Surterra
(Bloomberg) -- William Wrigley Jr. II, the former chewing gum executive who helped orchestrate the sale of his family’s business to Mars Inc., is taking over as chief executive officer of a medical marijuana company.
Wrigley, 55, who left the gum and candy business after it was sold in 2008, made an initial investment in Surterra Wellness last year and led a $65 million investment round that boosted his stake in August. Now, he’s taking over as CEO of the company, which is based in Georgia and operates more than a dozen medical dispensaries in Florida. He succeeds Jake Bergmann, who stepped down on Nov. 5.
The company, which also has a license to operate in Texas, announced in September plans to work with Jimmy Buffett’s Margaritaville team to develop a new brand of medical weed called “Coral Reefer.”
©2018 Bloomberg L.P.