BOB MARLEY BRANDED WEED –
BRINGING POT TO MAINSTREAM AMERICA
The Seattle-based private equity firm, Privateer Holdings, did more than secure an investment in America’s trending support for legalized marijuana in the U.S. It placed the rasta stamp of approval on their product when they 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. This brilliant move made Marley Natural brand the best-funded player in the marijuana industry, as Privateer Holdings raised $75 million (bringing its total pot to $82 million). It’s no wonder that the Marley name and packaging is a well-received brand for mainstream America, given the reggae legend’s long history with cannabis. Earnings around $20 million in its first year of launching in 2014 made Marley the fifth-highest paid dead celebrity last year per Forbes estimates. Privateer plans to expand, increasing their staff from 250 to 1,000 in 2015, as well as enter at least six new markets by the end of the year.