Another retired professional athlete has found a second career within the rapidly expanding CBD industry.
Shane Victorino, known as the “Flyin’ Hawaiian” during his playing days, was an integral part of the Philadelphia Phillies’ 2008 World Series championship. During his career in Major League Baseball (MLB) he also played for the San Diego Padres, Los Angeles Dodgers, Boston Red Sox, and the Los Angeles Angels. Now, his investment group, Legacy Ventures Hawaii is hoping to soar high in the CBD industry.
Legacy Ventures Hawaii has just announced a partnership with Arcadia Biosciences, an agricultural producer focused on producing healthy products while utilizing environmental-friendly farming practices.
The new partnership will operate under the name Archipelago Ventures. Archipelago’s goal is to create a single vertically integrated supply chain for the entire seed to sale process. Products are expected to be available for sale before the end of the year.
Victorino and Arcadia intend not only on providing hemp and CBD products but also hope to promote economic opportunity in Hawaii.
“Archipelago recognizes the tremendous market opportunity for premium Hawaiian CBD,” Victorino said in a release. “We believe hemp has the potential to transform Hawaii’s economy—and the lives of its farmers and local communities—by creating an entirely new agricultural segment based on bringing innovation, scientific integrity, and investment to the islands.”
Although Hawaiian businesses often are at a disadvantage geographically compared to mainland U.S. companies, Archipelago may have a leg up in one key area: Hawaii’s climate allows for year-round hemp cultivation.
“Hawaii has special significance for Arcadia; it’s where we first began our hemp research and cultivation, and it’s where we continue to see the greatest opportunity for innovation and growth in industrial hemp,” said Matt Plavan, president of Arcadia Specialty Genomics and chief financial officer of Arcadia Biosciences. “Our new partnership with Legacy not only positions us to lead the rapidly evolving market in producing superior hemp—from seed to extract—but to quickly scale our operations following key regulatory approvals.”