As support for legalizing marijuana in the US continues to grow, investors are on the lookout for companies that can cash in. So far, the smart money seems to be on Privateer Holdings: a Seattle-based private equity firm that secured a 30-year licensing deal to use Bob Marley's name and likeness to sell "heirloom Jamaican cannabis strains" and other Marley-branded merchandise. In a recent funding round, Privateer Holdings raised $75 million, bringing its total pot to $82 million and making it the best-funded player in the fledgling marijuana industry.
Privateer's success is thanks at least in part to its licensing deal with Marley's family. The firm's Marley Natural brand launched last year and aims to start selling its products worldwide by the end of 2015. Leveraging Marley's fame is a bit of a no-brainer for the industry. Not only do people rightly associate Marley with marijuana use, but the reggae icon's image has already been used to sell everything from coffee to clothes. In fact, Forbes estimates that Marley was the fifth-highest paid dead celebrity last year, with postmortem earnings of around $20 million in 2014 alone.
19. "I'm surprised too... " In response to Reply # 18
I find the stuff we have out here weak compared to what I've sampled in the states..
From what I'm hearing there's an increase in indoor growth here now. The outdoor growth had really gotten shabby because of the constant police raids. Farmers had to be harvesting early etc...
8. "Hmm" In response to Reply # 0 Wed Apr-08-15 01:29 PM by Numba_33
Is the product from Jamaica? Also, is the product going to be sold across state lines? I thought only dispensaries had legal rights to sell the stuff within state lines at the moment.
Assuming the product isn't from Jamaica, interesting the family name is being used in this manner.
20. "Nope.. Not jamaican product... Not yet at least.. " In response to Reply # 8
.. It's really a shame because this could have been a huge economic boost for jamaica I think. Our government has been so behind... Things are starting to progress now.. But I think it's too little too late.