The name Anheuser Busch InBev should be very familiar to regular readers of this website, so frequently do we mention the biggest brewing conglomerate in the world.
However, a descendent of the original founder himself, Adolphus Busch V, has recently branched out into an entirely different market. ‘I saw that cannabis is the future,’ the AB InBev heir said in a press statement last week. His new company is called ABV Cannabis, and they sell a different kind of bud out of the recreationally legal state of Colorado.
Busch, 27, is just one of quite a few high-profile individuals who have invested in the legal marijuana trade over the past year. As these pages reported not long ago, Corona beer brewers Constellation have recently put millions into a Canadian weed grower Canopy Growth, and just last week William Wrigley Jr (of world-famous Wrigley’s gum and confectionery) joined the Walmart heir Jimmy Buffet in launching the Coral Reefer cannabis products brand. The Jim Beam heir, Ben Kovler, has also launched Green Thumb industries, who grow and distributed weed-based products across four legal states.
Clearly, traditional sellers of American booze are looking at *ahem* greener pastures. According to hedge fund investment officer John Kaden, ‘alcohol markets will be the most immediately affected’ as full recreational legalisation efforts spread and gather pace across the U.S.A. Although, it might take a while for pot to reach the dizzying highs of the alcohol market. The total legal weed market in the USA was worth $50 billion in 2017, compared to the roughly $180 billion of the alcohol market.
A Bright Future
But that hasn’t stopped the money pouring in. Rumour has it that strict nepotism rules, introduced after the takeover of Anheuser Busch by InBev in 2008, meant that Adolphus couldn’t get the top-level job at his father’s company he was after. Instead, he turned to weed.
“I knew I could take all I learned from my pioneering family heritage and create a new legacy for myself in the cannabis space,” he said in a statement. Busch, who graduated from the University of Colorado in 2013, spent the next three years working in the cannabis industry. During this time, he managed a sales team at which helped him gain knowledge of the industry and their regulations.
Upon returning to his father with a certified investment plan for a second time, the older Adolphus was more accommodating. ABV Cannabis for the moment only sells branded vape pens, but according to their website they will soon be expanding into other marijuana markets.
It seems his father may also have a historical interest in pot too – last year he called on lawmakers and the public to push for medical legalisation in his home state of Missouri. We doubt you’ll be seeing Bud Green in stores nationwide any-time soon, but if high profile individuals and companies keep investing like they have in 2018 – one day that dream might be a reality.