Mike Tyson is embarking on a new venture in the legal cannabis industry.
On Wednesday, the former professional heavyweight boxer announced the launch of Tyson 2.0, a new company focused on offering high-quality cannabis to consumers at multiple price points.
Led by Heavy Hitters
Tyson is launching the company with Captor Retail Group CEO Adam Wilks and Fyllo Founder Chad Bronstein.
The company says Wilks brings significant experience in cannabis operations, having served as CEO of the One Plant multi-state cannabis retail chain and COO of the Sol Global venture capital firm.
Wilks also spent over ten years working for Cold Stone Creamery and Pinkberry.
Bronstein, who will serve as Tyson 2.0 chairman, is also CEO of digital cannabis marketing and compliance solutions technology company Fyllo.
Bronstein says he got to know Tyson as an entrepreneur and investor, and it was clear that cannabis was a critical component in his life.
“I understood early on in our friendship that his brand could be used to bring superior products to market,” says Bronstein. “The Tyson brand combined with a major cultivation partner like Columbia Care, with their trusted and proven reputation in the industry, will ensure that consumers have access to the cannabis strains and form factors that Mike believes in.”
Wilks believes that the new venture will be a success for multiple reasons.
“Tyson 2.0 will combine Mike’s star-power and love of cannabis with my experience licensing and commercializing brands—both cannabis and other consumables,” says Wilks. “Consumers want high-quality products that their favorite celebrities use firsthand. Tyson will do just that.”
Coming Out Swinging
Led by Sol Global, K2, Ambria, and Arcadian Capital, Tyson 2.0 has completed its first seed round.
According to the company, it will use the funds to secure cultivation agreements, develop proprietary strains, and assemble a national sales team to bring the brand to legal markets.
Tyson says cannabis has always played an important role in his life.
He says the company’s mission is to provide customers with an outstanding selection of quality full-spectrum cannabis products with purity, precision, and broad accessibility.
“My vision for Tyson 2.0 is to make high-quality cannabis products available to consumers at various price points,” says Tyson. “With Adam and Chad’s leadership, I am confident that the Tyson brand of products will exceed market expectations. Cannabis has changed me for the good, both mentally and physically, and I want to share that gift with others who are also seeking relief. With Columbia Care in our corner, we will reach so many people and deliver the high-quality cannabis products they’ve been searching for.”
Packing a Punch
Columbia Care Chief Growth Officer Jesse Channon says celebrity sponsorship is one of the most effective ways to build immediate recognition for products and brands.
“Influencers have driven some of the most successful brands, from sneakers to alcohol and now cannabis,” says Channon. “Mike Tyson is creating a completely different and authentic experience, and has positioned himself as a true ambassador for cannabis products. We are grateful for the trust and confidence Mike has given our vast industry experience.”
Channon says he is honored to be a part of one of the industry’s largest cultivation and distribution partnerships.
Channon says they are looking forward to working with the Tyson 2.0 team to bring products, and the passion behind them, to markets nationwide.
Sol Global CEO Andres Defrancesco says he is confident in Wilks’ and Bronstein’s ability to build a winning business and is beyond confident they will do the same with Tyson 2.0.
“We get what makes a cannabis venture highly successful, and Tyson 2.0 now has all the right elements in place,” says DeFrancesco. “Tyson 2.0 has an experienced management team well-versed in the operations of cannabis along with established multi-year cannabis relationships and partnerships from other ventures. That coupled with Mike Tyson’s brand foundation and global audience is a winning formula.”
