News

Seeing Green: Cannabis Products Company Raises $75 Million For Future Brands

Privateer_Vert_Color

Privateer Holdings busted out of the gate a few months ago and made themselves known when they announced a partnership with the estate of Reggae legend Bob Marley for a new line of cannabis products. Now comes word that the company has raised another $75 million in funding that it plans to use to create new cannabis-related brands.

Privateer Holdings was created to design and acquire companies in the cannabis industry. As of now, it owns three major products, including Leafly, Tilray and Marley Natural. The plan is to use the success of those three products to springboard Privateer into its next phase of brand creation.

Ryan Lawler of TechCrunch.com spoke with Privateer CEO and co-founder Brendan Kennedy, who told him, “We’re in this really interesting stage at the end of prohibition. Our focus is on creating brands that fuel change, that change perceptions of the product and user — brands that inspire trust, and brands that create legitimacy. This is the next logical step in the transformation of this industry, as it changes from a market that operates in the shadows to a fully transparent market that’s out in the open.”

Kennedy sees the marijuana market becoming similar to the beer market, where “there’s a segment for Sam Adams drinkers, and one for Heineken drinkers. And sometimes those brands end up being owned by the same company.” According to Lawler’s article, Kennedy’s investors hope Privateer will build four or five billion-dollar brands in the cannabis space.

SOURCE

Tags
Show More

Richard Lowe

Richard Lowe is a 14-year veteran of the financial sector with licenses as a commodity broker (Series 3) and investment advisor representative (IAR Series 65). Along with a focus on raising capital for the firms he was employed with, he also wrote and edited much of the content published by them. He holds a BA in Journalism from the University of Massachusetts. He has been a longtime advocate for marijuana legalization due to the social injustices associated with marijuana prohibition and the strong potential for the medicinal benefits of cannabis.

Related Articles

Leave a Reply

Back to top button
Close
Close