The CEO of a beverage company recently acquired by PepsiCo is placing his bet on marijuana, joining the board of directors of and making a significant personal investment in an agriculture business working in cannabis production.
Daniel Birnbaum, CEO of at-home carbonated drink maker SodaStream – which PepsiCo acquired last year for $3.2 billion – will join the board of Israeli company Seedo.
Birnbaum also invested roughly 2 million shekels ($550,000) in Seedo, according to the Israeli newspaper Haaretz.
Seedo makes agriculture technology for the production of pesticide-free crops, including marijuana and hemp. The company trades on over-the-counter markets as SEDO.
Birnbaum also is an investor in Israel-based Cannabics Pharmaceuticals, which works on cannabinoid-based therapies for cancer patients.
Cannabics Pharmaceuticals owns 20% of Seedo common stock.