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The CEO of Scotts Miracle-Gro – a provider of lawn and garden products dating to the 19th century – wants to invest half a billion dollars in the marijuana industry.
“It’s the biggest thing I’ve seen in lawn and garden,” CEO Jim Hagedorn told Forbes. His plan: “Invest, like, half a billion dollars.”
Scotts Miracle-Gro sells grass seed, fertilizers, pesticides and dirt.
Hagedorn already has started wagering on the cannabis industry. Last year, he invested $135 million in two California businesses that sell fertilizer, soil and other gardening accessories to cannabis cultivators.
More recently he spent $120 million on a