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Entries in Scotts Miracle-Gro (1)

Tuesday
Jun142011

Scotts Miracle-Gro to Tap into Marijuana Market?

David McNew/Getty Images(NEW YORK) -- Scotts Miracle-Gro, a leader in lawn care and garden products, is reportedly looking to cash in on the medical marijuana growing industry.

"I want to target the pot market," the company's CEO, Jim Hagedorn, said in an interview, according to The Wall Street Journal.  "There's no good reason we haven't."

Hagedorn hopes that by delving into medical marijuana,  Scotts Miracle-Gro will receive a boost in sales.

So far, the use of pot for medical purposes has been legalized in 16 states.  See Change Strategy LLC, an information data services company, estimates that sales of medical marijuana will near $2 billion this year.

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