Jim Beam heir has plans for cannabis empire

Prohibition 2.0

Jim Beam heir has plans for cannabis empire
Stars Insider

05/15/18 | StarsInsider

LIFESTYLE Weed

As cannabis consumption seems to be continuing its path towards national legalization, Ben Kovler, an heir to the liquor company Jim Beam, is planning to build a marijuana empire.

In what he is calling "Prohibition 2.0," Kovler is working to take his company Green Thumb Industries (GTI) public in Canada. As a cultivator, processor, and dispensary owner, Kovler's company is already operating in six US states and has products in more than 100 stores. GTI reported that its revenue topped $20 million last year and should exceed $70 million this year, according to Bloomberg.

Kovler's great-grandfather was Harry Blum, one of the primary investors in the prominent liquor producer, Jim Beam. In 1941 Blum made history by buying the company outright for $1 million. Now Kovler, the liquor company heir, sees a new frontier for the family in cannabis.

As recreational marijuana sales are predicted to grow to $24 billion by 2025, Kovler intends to take Green Thumb Industries into the new age of weed.

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