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Warren Buffett, the man who made billions from soda and candy, is now shifting his keen investment eye onto the marijuana industry.
Cubic Designs Incorporated, a subsidiary of Buffett’s Berkshire Hathaway, is a business which optimizes warehouse floor space. They recently delivered roughly 1,000 fliers to marijuana dispensaries over the last month hoping to catch the attention of cultivators looking to maximize their grow space. The fliers read in large lettering: “Double your growing space” and “Grow your profits.”
Shannon Salcrecht, Cubic Designs Inc.’s marketing coordinator, realized the potential business opportunity after being contacted by a number of marijuana growers looking for information. Retail cultivation space has become sparse in places like Denver and Seattle, where growers are hoping to maximize their yield which in turn has caused landlords to raise the rent.
The hardest part for Cubic Designs has been trying to locate the actual growers since they don’t intentionally advertise their names or whereabouts. Salcrecht said, “The one thing with this industry that’s kind of tough is that it’s somewhat still secretive.”
Buffett amassed his fortune through acquiring large stakes in companies like Coca-Cola and Dairy Queen when the time was right. It only makes sense that he would get in on the thriving legal marijuana industry as it begins to develop.
