MedMen has quickly catapulted itself onto the top of the legal marijuana industry. The chain of dispensaries is currently one of the leading players in the U.S.’ burgeoning cannabis industry, and now boasts 19 cultivation, manufacturing and retail locations dispersed through New York, Nevada, California, and soon-to-be Florida, where it just acquired all dispensary and growing assets from the Florida-based cultivation company, Treadwell Nursery.
Additionally, the company has recently gone public in Canada, which is set to legalize recreational cannabis on October 17th. The company is estimated to be valued at around $1 billion.
With legal cannabis becoming the new hot investment, especially ahead of Canada’s legalization, plenty of big-name celebrities have tried to dip their hands in the “Green Rush.” Naturally, MedMen is the type of company to attract marquee-names.
And apparently, they have.
According to a press release from the company, they’ve managed to acquire a pretty big name investor. In fact, Jay Brown of Roc Nation just joined the MedMen company board.
Music Mogul Making Marijuana Moves
Brown, who began his career as a publishing executive with Qwest Records, is the latest in a long list of celebrity influencers to get in on the cannabis industry from the ground floor. He will serve on MedMen’s board of directors, effective immediately.
Following his time at Qwest, Brown joined Elektra Entertainment Group as senior VP, and later, Def Jam as executive VP. He then went on to partner with Jay-Z, where he became the CEO of the rapper’s entertainment group, Roc Nation, back in 2008.
Brown said in the press release he believes his time in the music industry will help him easily transition to his next endeavor—cannabis.
“Over the years, I’ve met great talent and passionate people who helped shape our view of the world through music,” said Brown. “I see that same intensity in today’s emerging cannabis industry and MedMen is definitely at the head of the pack. I believe in their mission and I believe in their ability to execute.”
MeMen Co-Founder and CEO Adam Bierman believes that Brown’s grasp on pop culture and hip-hop can be a huge asset for an industry that’s slowly but surely trying to inch its way into the mainstream.
“Marijuana today is less about smoking a joint, and much more about lifestyle and culture. It is about healthier, safer choices for mind and body, and community,” said MedMen Co-founder and CEO Adam Bierman. “For more than two decades, Jay Brown has had his finger on the pulse of pop culture. We are honored to have him on our Board and look forward to working with him as MedMen continues on its mission to mainstream marijuana.”