Right? If someone wants to understand the power of LinkedIn here, it's actually true. Just over a month into his new role, Datcher spoke to Insider in a phone interview last week and discussed his position at The Parent Company in relation to his 20-year tenure at The Clorox Company, where he had recently led the company's global sales organization as its senior vice president and chief customer officer. The acquisition expanded the company's reach to over 80% of California's population and made it the second largest retail dispensary and delivery hub network in the state, according to a rep for the company.
The company's portfolio includes Jay-Z's cannabis brand, Monogram, among seven other brands, and it has an operational footprint in the cannabis industry that spans cultivation, extraction, manufacturing, distribution, retail, and delivery.Įarly this month, under Datcher's leadership, The Parent Company acquired 100% of the equity of Coastal Dispensary, LLC, a California retail dispensary and delivery operator known as "Coastal," for a total consideration of up to $65.2 million. SPAC transaction that was the largest cannabis SPAC to date. The Parent Company formed in January of this year when it brought together Jay-Z's Roc Nation, Caliva, and Left Coast Ventures in a In August, The Parent Company, Shawn "Jay-Z" Carter's holding company in the cannabis space, made a historic hire when it brought on Clorox executive Troy Datcher as its new CEO, as the role marked the first time that a Black CEO would lead a major, public cannabis organization in the US.
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