Holistic Industries raises $ 55 million to fund additional growth – New Hashish Ventures

Holistic Industries, the largest private cannabis operator in several states in the United States, raises $ 55 million

Best place to work, shop, and invest in cannabis is gearing up for strategic expansion and M&A with recent capital raising

WASHINGTON DC – May 11, 2021 – Holistic Industries, the largest privately owned, vertically integrated, multi-state operator (MSO) for cannabis, announced that it has raised $ 55 million in a convertible bond to help achieve its goal , the best place to be to work, shop, and invest in cannabis. Proceeds from the oversubscribed offering, led by the Harbert Stoneview Fund, will be used to support expansion into newly licensed markets including Missouri and West Virginia, expansion into additional markets, M&A activities currently pursued by the company as well drive the market introduction of new brands and product innovations.

We are the largest remaining private MSO in the market today and we see tremendous opportunities for us and our investors. With this final round of funding, we will continue our strategic expansion and further develop the operational scale and management quality that make us the best place to work, shop and invest.

Josh Genderson, CEO of Holistic Industries

Today, Holistic Industries employs over 600 people and over 500,000 square feet of cultivation / processing facilities in eight regionally concentrated states. Between 2018 and 2020, Holistic Industries achieved a sales CAGR of 146% and is expected to more than double its sales again in 2021. The company also has a growing and profitable greenhouse for all types of cannabis users, including recent launches of Do Drops, Garcia Hand Picked and Strane in strategic markets. Holistic Industries opened three new Liberty pharmacies in California and Pennsylvania in the first quarter of 2021 and plans to open several additional retail locations and grow / processing operations later this year.

Holistic Industries has long been a good fund manager investing in licenses and operations in high quality markets. Exciting things lie ahead for Holistic Industries and we are honored to lead this funding round to capitalize on the next wave of strategic growth. There are few industries with such exciting worldly growth opportunities as cannabis, and Holistic is a standout player in the market.

Curry Ford, portfolio manager of the Harbert Stoneview Fund

Holistic Industries has a cannabis-passionate, professional senior management team with extensive expertise in wine, pharmaceuticals, banking, real estate, entertainment and games, and a proven track record of execution. The company has a long history of licensing wins, most recently licensing in Missouri and West Virginia, where the company won a total of twelve licenses. Holistic has applications pending in other high quality states such as New Jersey, Illinois, and Virginia. The company is committed to investing in the local communities in which it operates, from hiring on-site to providing cannabis education and outreach through Liberty Cannabis Cares.

To learn more about Holistic Industries, please visit: www.holisticindustries.com.

About holistic industries

Holistic Industries is headquartered in Washington, DC and is the largest private multi-state cannabis operator (MSO) in the United States. The company has vertical operations in California, Maryland, Massachusetts, Michigan, Pennsylvania, Washington, DC and soon in Missouri and West Virginia. Founded in 2011 by Josh Genderson, Holistic Industries has grown into a national medical and consumer goods company, cultivation and extraction network, and retail pharmacy chain under the Liberty brand. Holistic Industries was founded to provide patients with access to the highest quality cannabis medication and has grown rapidly with that ethos in mind. With Holistic’s entry into adult markets, the company has built a reputation for delivering exceptional products in a customer-centric retail environment. Holistic Industries’ branded greenhouse includes Liberty (pharmacies), Do Drops, Strane and Garcia Hand Picked.

Source: Company

Published by NCV Newswire

NCV Newswire

New Cannabis Ventures’ NCV Newswire aims to curate high quality content and information on leading cannabis companies to help our readers filter out the noise and stay up to date on the top cannabis business news. The NCV Newswire is hand-curated by an editor and is not automated anyway. Do you have a confidential news tip? Get in touch.

Get our Sunday newsletter

Comments are closed.