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Luxury Cannabis Brand, Beboe Is Getting Acquired

Beboe’s complete suite of products.COURTESY: BEBOE

Say hello to Beboe 2.0. The New York Times coined the Los Angeles-based cannabis brand as “the Hermès of Marijuana” in 2017 and with yesterday’s acquisition announcement from Green Thumb Industries (GTI), Beboe is about to set the standard for luxury cannabis nationwide.

GTI signed a definitive agreement to acquire the vertically integrated For Success Holding Company, co-founded by Scott Campbell and Clement Kwan in 2014. Three years later, Beboe was born as its first lifestyle suite of branded cannabis products.

Beboe was created in honor of and named after Campbell’s grandmother, Bernice (Be Boe), who baked pot brownies well into her eighties to help relieve his mother’s pain while she battled cancer during his childhood.

“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,” says GTI founder and CEO Ben Kovler.

Beboe is currently on-shelf in more than 125 California and Colorado retail locations, which Campbell credits as an “uphill battle” and the company’s biggest challenge yet.

“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,” says Campbell. “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.”

Describing Beboe’s potency as “socially dosed” for “dinner party culture,” Campbell says that leading with education was the start of getting the retail side to embrace the higher priced products. A complimentary and community-focused social media presence welcomes you into the coolest and chillest family of all, the @beboefamily.

While GTI, a national cannabis cultivator, processor and dispensary operator, has developed its own brands including RythmDogwalkers and The Feel Collection, Beboe is its first move in bringing a premium brand to its own 15-store chain of Rise medical dispensaries. Headquartered in Chicago, GTI also counts former NFL star Eugene Monroe as one of its top executives, where he consults on engaging diverse communities and research initiatives.

Beboe co-founders Scott Campbell and Clement Kwan.COURTESY: BEBOE

With one Beboe out-of-state expansion already deemed a success, Campbell says, “What makes GTI super exciting is now we can do the same thing in more states and everything we’ve worked so hard to build will soon have an enormous audience and relief will reach a lot more people.”

To Read The Rest Of This Article By Katie Shapiro on Forbes

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Published: February 06, 2019

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