The Scotts Miracle-Gro Co. transferred its cannabis-investment unit, The Hawthorne Collective, to an “independent strategic partner.”
Scotts transferred The Hawthorne Collective in exchange for an interest-bearing promissory note, according to a Thursday news release.
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The parent company has the option to reacquire The Hawthorne Collective if marijuana is legalized or other measures that positively impact the industry are approved at the federal level.
Ohio-based Scotts did not identify the partner, and a company spokesperson did not immediately respond to an MJBizDaily query seeking the identity.
According to the release, Scotts launched The Hawthorne Collective in 2021 to “invest in areas of the cannabis industry that are not pursed by” the Hawthorne Gardening Co., which provides cultivation supplies for cannabis growers and hydroponic cultivators.
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