After breaking into the massive billionaire membership, Sean “P. Diddy” Combs reminds us once more who he’s. The Unhealthy Boy informed us earlier than that he “can’t cease, received’t cease.”
Now, he’s including the world’s largest Black-owned hashish firm to his empire. Diddy has entered a brand new trade – hashish.
On high of his success throughout quite a few industries – music, vogue, perfume, beverage, advertising, movie, tv, and media – Combs is making certainly one of his most vital strikes with the acquisition of property after the merger of Cresco Labs and Columbia Care.
Diddy will now be the proprietor of an organization with licensed marijuana operations in three states after buying the corporate for $185 million.
The funding creates the primary minority-owned, vertically built-in multi-state operator.
The Wall Road Journal additionally introduced the numerous transfer, the place the producer behind Biggie Smalls, Religion Evans, early Mary J. Blige, and others, will be capable of develop and manufacture hashish merchandise, be a wholesale distributor of branded merchandise to licensed dispensaries and function retail dispensaries.
Whereas it’s a nice funding, it’s also a social justice motion, the place he’s working to safe the financial inclusion of underrepresented teams in hashish.
Combs is ready to “work with state regulators, politicians, and hashish executives to make sure range and fairness within the trade” and can be capable of “create generational wealth by means of Black alternatives and employment.”
His workforce additionally shares Brother Love needs to vary the narrative that over-criminalized folks of shade within the hashish house.
“My mission has all the time been to create alternatives for Black entrepreneurs in industries the place we’ve historically been denied entry, and this acquisition gives the quick scale and affect wanted to create a extra equitable future in hashish,” mentioned Sean “Diddy” Combs, Chairman and CEO Combs Enterprises. “Proudly owning your complete course of — from rising and manufacturing to advertising, retail, and wholesale distribution — is a historic win for the tradition that can permit us to empower various leaders all through the ecosystem and be daring advocates for inclusion.”
Diddy will function stores in New York: Brooklyn, Manhattan, and New Hartford. Rochester can have each retail and manufacturing property.
In Massachusetts, Diddy’s new firm can have retail shops in Greenfield and Worcester, whereas Leicester will home a retail retailer and a manufacturing asset.
In Illinois, he’ll function shops in Chicago, Jefferson Park, and Villa Park, with retail and manufacturing property in Aurora.