'Who Do You Help?' Acreage EVP Talks Cannabis As A Wellness Product
Cannabis companies want to market themselves as wellness brands.
That’s what Tyson Macdonald, Executive Vice President of Corporate Development at Acreage Holdings (OTC: ACRGF), spoke about at Benzinga’s Cannabis Capital Conference in Detroit. Detroit Free Press Reporter Kathleen Gray moderated the talk.
Acreage Holdings’ Board of Directors include former U.S. House Speaker John Boehner and Bill Weld, former governor of Massachusetts and 2020 Republican presidential candidate. Earlier this summer, the company finalized a deal to be acquired by Canopy Growth Co. (NYSE: CGC) to create the world’s largest cannabis company.
Building A Cannabis Empire
Macdonald started as a hedge fund manager before venturing into the cannabis space in 2017. After seeing the potential of the emerging market and the people working in it, Macdonald joined Acreage.
With the Canopy Growth acquisition, Macdonald said the two companies hope to derisk investing in cannabis and drive an emerging industry.
“The philosophy has been making sure we are putting in place key folks that can help drive this industry and derisk it for investors other than the fact that it’s cannabis,” Macdonald said.
Tyson Macdonald speaking at the Cannabis Capital Conference in Detroit on Aug. 15. Photo by Dustin Blitchok.
‘Wellness For Their Lives’
Macdonald said Acreage creates products aimed to wellness, and with the Canopy Growth acquisition hopes to continue creating high-quality, consistent products.
“We want to deliver high-quality medical products to folks,” Macdonald said. “We also want to deliver high-quality products that consumers may be using at their own discretion and how they’re going to incorporate that into wellness.”
He explained a shift in how people perceive the cannabis market, which prides him in continuing his work.
“I was explaining to my seven-year-old daughter and she said ‘Dad, I get who doctors help and who firefighters help, but who do you help?'” Macdonald said. “It was a powerful moment that I lived with and I’ve never been prouder to come to work.”
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