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Cannabis Company Backed by Retail Fortune Eyes East Coast Expansion

  • Ohio’s Schottensteins fund Green Growth Brands pot operations
  • Victoria Secret’s veteran leading the firm as chief executive
Bloomberg business news
Wall Street Interest in Marijuana Is at All-Time High

A cannabis company backed by the retail fortune of Ohio’s Schottenstein family has raised about $65 million as it prepares to be publicly traded in Canada.

Green Growth Brands, which is run by former Victoria’s Secret and American Eagle Outfitters Inc. executive Peter Horvath, has purchased an existing marijuana operation in the Las Vegas area and is looking to get licenses to operate in Massachusetts, Florida and New Jersey. The new funding round included investments from the Schottensteins and Horvath, and precedes a stock listing in Canada in coming weeks through a reverse takeover.