fbpx
QQQ
+ 0.89
339.46
+ 0.26%
DIA
+ 0.07
344.91
+ 0.02%
SPY
+ 0.75
422.86
+ 0.18%
TLT
-0.23
142.77
-0.16%
GLD
-2.04
179.78
-1.15%

Holistic Industries CEO: Changing Political Climate Will Bring Influx Of Players To Cannabis

October 23, 2019 10:19 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Holistic Industries CEO: Changing Political Climate Will Bring Influx Of Players To Cannabis

When Holistic Industries CEO Josh Genderson went into the family wine business, he said his goal was simple: not to screw it up. 

He wound up growing the size and revenue of the company, Schneider's of Capitol Hill, by a factor of six, he told moderator Mitch Kulick of Focus Growth Advisors during a Tuesday panel at the Benzinga Cannabis Capital Conference in Chicago.

Genderson was able to grow the wine business in part due to the liquor laws in Washington, D.C., he said. 

"One of the ways I was able to grow that business was by including importing and distribution on top of our strong retail platform."

From Wine To Cannabis 

Genderson took his experience at Schneider's and used it to launch Holistic Industries in 2011, which announced last week that it raised $55 million in funding. 

Holistic's brands include Liberty Cannabis dispensaries and Strane flower and concentrates.

Genderson's office is near the U.S. Senate, he said Tuesday. He's optimistic about changing federal marijuana regulations and said previous fears, like the impact of former Attorney General Jeff Sessions, never came to fruition. 

The CEO said he expects an influx of cannabis players from sectors like alcohol, tobacco, consumer packaged goods and private equity. 

Companies like Holistic Industries are well-positioned for the flow of new entrants into the space, he said. 

"They're going to be looking for operators like us that had retail outlets in L.A., San Francisco, Detroit, Ann Arbor, D.C., Pittsburgh and Philly and spread across the country in strategic areas."

Related Links:

Cannabis Investment Manager: Canadian Woes Are Hurting US Stocks

Acreage CEO Kevin Murphy: Drop In Cannabis Stocks Isn't The End Of The Run

Photo courtesy of Holistic Industries. 

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to our YouTube channel.


Related Articles

LGBTQ Inclusivity And Support Grow In Cannabis Industry, But More Needs To Be Done After June Pride Month Ends

June is the month when retail brands let their customers know they support LGBTQ+ rights and inclusivity, although many of them go quiet once Gay Pride is over. When retailers put away their rainbow flags and Pride marketing materials, some consumers are left feeling that the effort is more for a summer sales boost than a true expression of inclusivity. read more

Marijuana Etiquette: It's A Real Thing And A New Book Breaks It Down

This past Tuesday, cannabis industry reporter and Benzinga author Andrew Ward celebrated the release of his second book, “The Art of Marijuana Etiquette: A Sophisticated Guide to the High Life.” read more

Peter Thiel-Backed Psychedelic Firm Atai Sets Terms For US IPO, Sees $2.3B Valuation

Atai Life Sciences B.V., backed by billionaire investor Peter Thiel, has announced terms for its initial public offering.  read more

Cannabis Movers & Shakers: ManifestSeven, Flora Growth, Fire & Flower, Charlotte's Web, MediPharm Labs, Village Farms, PharmaCielo

ManifestSeven Shakes Up Its Management Team California's first integrated omnichannel platform for legal cannabis, ManifestSeven Holdings Corporation (CSE: MSVN) (OTCMKTS: MNFSF), has elected all director nominees to the board at its annual general meeting held on June 3. read more