Bob Marley’s Family Will Develop Their Own Brand of Marijuana

72500567-smokingThe family of the late reggae superstar Bob Marley has announced they have joined with a private equity firm to develop Marley Natural brand marijuana, Money reports.

Marley Natural will feature "heirloom Jamaican cannabis strains," which Marley himself used, according to the article.

The company will also sell Marley-branded creams, lotions and accessories.

"My dad would be so happy to see people understanding the healing power of the herb," Cedella Marley, the musician's daughter, said in a statement. "He viewed the herb as something spiritual that could awaken our well-being, deepen our reflection, connect us to nature and liberate our creativity. Marley Natural is an authentic way to honor his legacy by adding his voice to the conversation about cannabis and helping end the social harms caused by prohibition."

Brendan Kennedy, CEO of Privateer Holdings, the private equity firm involved in the deal, said marijuana products named after Marley are already being sold without the family's approval. Kennedy told The Guardian that Marley Natural could one day be a brand to rival Starbucks.

Launching a marijuana brand faces many challenges. Regulations severely limit business opportunities. Marijuana remains illegal under federal law, and cannot be transported across state lines.

Marley Natural expects to begin shipping its product to states where marijuana is legal by the end of next year.

The company will be headquartered in New York City. Its marijuana products will be grown and distributed locally in jurisdictions where the drug is legal, according to The Guardian.

 

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Tuesday, 25 June 2019

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