Calyx Peak Capital Adds Former CEO of FAO Schwarz, Ed Schmults, to Its Executive Roster

The cannabis capital group continues to build its asset base.

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November 27, 2018

LOS ANGELES, Nov. 19, 2018 /PRNewswire/ -- PRESS RELEASE -- Calyx Peak Capital has announced that Ed Schmults, former CEO of FAO Schwarz and COO of Patagonia, will join its team of cannabis industry experts. As CEO, Ed brings his extensive experience in worldwide branding to Calyx Peak, joining Chief Investment Officer Michael Bang and Dr. Paul Y. Song, chief medical officer, in their pursuit to revolutionize and further develop the burgeoning cannabis industry ahead of full federal legalization.

As a cannabis-centric funding partner, Calyx Peak Capital has set itself apart with a diverse team of medical, construction, business, financial and cannabis industry experts, who tout extensive experience in heavily regulated industries, such as finance, trading and government contracting, as well as retail, healthcare, consumer products, operations, IT and logistics. Additionally, it is among the only capital groups in the industry to also boast a house brand, Josh D, with such a strong legacy.

"The cannabis market is very intriguing to me, given the market size, growth rates and the incredible life-changing and life-saving medicinal benefits cannabis has to offer. In addition, there are significant positive social justice benefits to decriminalization as well as other societal benefits, like safer products and substantial tax revenues," says Schmults. "I've spent my career building and turning around brands with rich histories. I joined Calyx Peak because I believe my experience is an excellent fit to help them build a great brand and team. We're here to create a rich branded experience through high quality and innovative product and long-lasting relationships with our customers based on reliability and trust."

"We're very proud to be welcoming Ed to our team," says Bang. "His resume says it all—he's transformed brands, built strong operational teams and infrastructure and understands how to build and market products that create strong emotional connections with customers. He's an integral piece to Calyx Peak's future in the cannabis industry."

Calyx Peak launched with a small investment in Nevada in 2016 and quickly expanded to investments in three states within its first 18 months. Currently, Calyx Peak Capital manages seven permits and related operations in three states with 225,000 square feet of cultivation facilities and continues to expand. It operates cultivation, processing and distribution facilities in California, Ohio and Nevada, with pending operations in Massachusetts. Calyx Peak is poised to broaden operations as cannabis regulations evolve nationwide.

"Our goal is to continue to build a great company with strong national brands, with scalable processes and procedures that will prepare us for the eventual legalization or decriminalization at the federal level," says Schmults.