Hollywood luxury cannabis brand to be sold

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Green Thumb Industries has announced it will acquire Beboe

Beboe, an LA-based cannabis brand, was once called “the Hermés of Marijuana” by the New York Times. It is the go-to brand for the “it” crowd that will soon no longer be for just the elite. Green Thumb Industries (GTI) has announced that it is going to acquire the luxury cannabis company and take it nationwide.

GTI has signed a definitive agreement to purchase For Success Holding Company, which was founded by Clement Kwan and Scott Campbell in 2014. In 2017, the company founded Beboe as its first lifestyle suite of branded cannabis products.

The name was taken from Campbell’s grandmother, Bernice, who would bake pot brownies in order to relieve the cancer pain Campbell’s mother dealt with from a young age. GTI founder and CEO Ben Kovler states, “The Beboe brand comes from a very authentic place and you see that come to life in every detail. Most importantly, this has been a mutual effort to align our forces in a way that will be game-changing for the way people interact with cannabis as a way to enhance daily life.”

Campbell adds, “I think back to three years ago … the landscape of dispensaries and products available in them was very different. Kind of collegiate and very stoner focused. We would tell them about Beboe and they would tell us there are products out there that can get you way higher for way cheaper. With our products, it’s not about how stoned can you get. I am a high functioning adult who has to pick my kids up every day at 4:00 p.m.”

GTI has become a solid player in the industry. It has developed its own cannabis products, but its growth might be attributed, in part, to the fact that it has former NFL pro Eugene Monroe as an executive on its team.