Miracle-Gro Stoked About Medical Marijuana

Pot farms in 16 states could light up company profits
By Mary Papenfuss,  Newser User
Posted Jun 14, 2011 2:21 AM CDT
Jim Hagedorn helps spread mulch in gardens at Scotts Miracle-Gro headquarters in Marysville, Ohio. He's got high hopes medical marijuana will boost product sales.   (Jay LaPrete/AP Images for Scotts Miracle-Gro)

(Newser) – Don't bogart those profits. That's what Scotts Miracle-Gro execs are thinking now that they're zeroing in on the medical marijuana market. They have high hopes pot could boost sales majorly. "I want to target the pot market," CEO Jim Hagedorn tells the Wall Street Journal. "There's no good reason we haven't." Medical marijuana sales are expected to reach $1.7 billion this year now that it's legal in 16 states. Pot-farmer blogs are already debating the merits of the company's fertilizer, and pot-farm raids are turning up Miracle-Gro products. Hagedorn takes that as an awesome sign of brand awareness.

My Take on This Story
Show results without voting  |