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Those tracking marijuana’s move to mainstream can chew on this: The family name that made a chewing gum an American mainstay is moving into the pot business.
William H. Wrigley Jr. II, who sold his family’s business to Mars Inc. in 2008, is helping to raise $65 million for Surterra Wellness, a medical cannabis startup in Georgia with licenses to operate in Florida and Texas, according to an article on Monday’s Bloomberg.
For 54-year-old Mr. Wrigley, who left the candy business after the sale and now serves at Surterra’s board chairman, this is his first direct investment in the marijuana industry, which he backs for the medical benefits, he told Bloomberg.
“When I understood the massive benefits, it really changed my mind about the industry,” Mr. Wrigley said in an interview, his first public comments about the investment. “You don’t see too many opportunities to have that kind of an impact in an industry that is being created from scratch.”
A federal judge on Wednesday tossed out a lawsuit filed against the makers of Junior Mints candies, saying “ordinary intelligence” should lead to the comprehension that boxes of candy contain some air, USA Today reported.