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."
Photo courtesy of Holistic Industries.
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