Warren Buffett enters the Cannabis sector 10/28
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Posted On: 10/28/2019 1:43:38 PM
Warren Buffett enters the Cannabis sector
10/28/2019
Cannabis is an evolving sector. Recently, Warren Buffett entered the space following Kraft Heinz’s (KHC) newest investment. The food and beverage sector realized the value that they can gain by expanding into the growing sector. Kraft Heinz entered the sector by investing in Flowhub. Let’s see what the investment all about is.
Kraft Heinz’s investment in the cannabis space
On Thursday, a FoodBev Media article mentioned that Evolv Ventures, a venture fund backed by Kraft Heinz, has invested $23 million in a cannabis start-up Flowhub.
Flowhub is a cannabis retail software company based in Denver. The company’s main operations include point of sale, compliance, inventory tracking, and business intelligence data to cannabis dispensaries through a digital platform. The investment makes sense as Evolv Ventures is a venture fund that focuses on food tech companies. Kraft Heinz’s intention behind setting up its venture-capital arm in 2018 was to transform the food industry. The fund wants to help emerging start-ups focused on logistics, e-commerce, supply chains, and direct-to-consumer projects.
Kyle Sherman, Flowhub’s founder and CEO, said, “With this investment, we will continue to automate the cannabis supply chain, retail and reporting processes and bring to market technology solutions that are not only shaping the cannabis retail business, but also driving forward the future of legalization and de-stigmatization.”
Warren Buffett’s interest in the cannabis space
Investors always wondered if Warren Buffett’s Berkshire Hathaway would invest in the marijuana industry. Previously, Warren Buffett and the richest Americans were thinking about investing in the cannabis space. Berkshire Hathaway invests in many sectors. Arcview Market Research and BDS Analytics research said global cannabis sales could rise from $9.7 billion in 2017 to $31.3 billion by 2022.
Earlier this year, there were talks that Coca-Cola might team up with Aurora Cannabis to make CBD-infused beverages. When asked about Coca-Cola and Aurora’s deal, Buffett said, “It would be a mistake for Coca-Cola to get into the marijuana – cannabis business. They have a wholesome image and that would be detrimental to it.” Interested or not, Kraft Heinz’s investment in Flowhub marks Warren Buffett’s entry into the cannabis space.
https://marketrealist.com/2019/10/cannabis-kr...tts-entry/
10/28/2019
Cannabis is an evolving sector. Recently, Warren Buffett entered the space following Kraft Heinz’s (KHC) newest investment. The food and beverage sector realized the value that they can gain by expanding into the growing sector. Kraft Heinz entered the sector by investing in Flowhub. Let’s see what the investment all about is.
Kraft Heinz’s investment in the cannabis space
On Thursday, a FoodBev Media article mentioned that Evolv Ventures, a venture fund backed by Kraft Heinz, has invested $23 million in a cannabis start-up Flowhub.
Flowhub is a cannabis retail software company based in Denver. The company’s main operations include point of sale, compliance, inventory tracking, and business intelligence data to cannabis dispensaries through a digital platform. The investment makes sense as Evolv Ventures is a venture fund that focuses on food tech companies. Kraft Heinz’s intention behind setting up its venture-capital arm in 2018 was to transform the food industry. The fund wants to help emerging start-ups focused on logistics, e-commerce, supply chains, and direct-to-consumer projects.
Kyle Sherman, Flowhub’s founder and CEO, said, “With this investment, we will continue to automate the cannabis supply chain, retail and reporting processes and bring to market technology solutions that are not only shaping the cannabis retail business, but also driving forward the future of legalization and de-stigmatization.”
Warren Buffett’s interest in the cannabis space
Investors always wondered if Warren Buffett’s Berkshire Hathaway would invest in the marijuana industry. Previously, Warren Buffett and the richest Americans were thinking about investing in the cannabis space. Berkshire Hathaway invests in many sectors. Arcview Market Research and BDS Analytics research said global cannabis sales could rise from $9.7 billion in 2017 to $31.3 billion by 2022.
Earlier this year, there were talks that Coca-Cola might team up with Aurora Cannabis to make CBD-infused beverages. When asked about Coca-Cola and Aurora’s deal, Buffett said, “It would be a mistake for Coca-Cola to get into the marijuana – cannabis business. They have a wholesome image and that would be detrimental to it.” Interested or not, Kraft Heinz’s investment in Flowhub marks Warren Buffett’s entry into the cannabis space.
https://marketrealist.com/2019/10/cannabis-kr...tts-entry/
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