The Red Headed Stranger just scored some green, in more ways than one.
A New York private equity firm is backing country singer and songwriter Willie Nelson’s endeavor to sell marijuana in Colorado and Washington.
Tuatara Capital is leading an investor group financing the Willie’s Reserve cannabis brand for sale in the two states’ recreational markets, “and also other states as regulations allow,” according to a news release.
“We’re really excited to partner with someone like Willie, who embodies this spirit of American entrepreneurship and conviction to a cause,” said Tuatara Chief Investment Officer Al Foreman.
Mr. Nelson announced the Willie’s Reserve effort earlier this year, telling the Guardian, ” I’ve bought a lot of pot over the years, and now I’m going to sell some back.”
Mr. Foreman said Tuatara was introduced to the Willie’s Reserve team as a potential financial sponsor several months ago. Other participants in the transaction include a mix of institutional and individual investors, Mr. Foreman said. [Read more at Fox Business]