Emerging Powerhouse Cannabis Multi-State Operator Holistic Industries Raises $55 Million

WASHINGTON, Oct. 17, 2019 /PRNewswire/ -- Holistic Industries, one of the largest and fastest-growing private vertically-integrated cannabis operators in the United States, today announced that it closed $55 million in funding. The multi-state operator (MSO), which started on the East Coast and has rapidly expanded to the Midwest and West Coast, currently operates in California, Maryland, Massachusetts, Michigan, Pennsylvania and Washington D.C., with numerous licenses pending across the country. It has won the vast majority of its licenses in merit-based competitive license application processes. Holistic Industries will use the funding to accelerate expansion and provide greater access for patients and consumers to its high-quality cannabis products and retail experience that are the hallmarks of Holistic Industries and its brands.

Holistic Industries has a unique model and approach that enables it to win licenses, scale operations, and introduce national brands successfully in highly regulated markets. The company has proven to be a responsible steward of capital since its inception by sourcing licenses on merit rather than simply acquiring them on the open market.

"From the highest quality products and store design, to putting employees first and managing assets responsibly, we are a true operator with ambition to be the best place to work, shop and invest in the cannabis industry," said Josh Genderson, CEO of Holistic Industries. "Our mission is to provide patients and customers access to the safest and highest-quality products possible, and with this latest investment, we will continue to deliver on that mission."

Founded by Josh Genderson in 2011, Holistic Industries has grown into a national medical and consumer goods company, a cultivation and extraction network, and Liberty-branded retail dispensary chain. Genderson launched Holistic based on the retail, distribution and brand manufacturing expertise he gained serving as President of Schneider's of Capitol Hill, the Gendersons' fourth-generation, family-owned liquor business which is a staple in Washington, D.C. and a leading national distribution company. Holistic Industries was founded to provide patients with access to cannabis medicines and has grown quickly with this ethos in mind. As Holistic has entered adult-use markets, the company has built a reputation for delivering exceptional products in a customer-service oriented retail environment.

About Holistic Industries
Headquartered in Washington, D.C., Holistic Industries is one of the largest private cannabis multi-state operators (MSO) in the U.S. and runs vertical operations in California, Maryland, Massachusetts, Michigan, Pennsylvania and Washington D.C. Holistic is fiercely dedicated to customer service and individualized patient care developing and selling the most innovative, highest quality cannabis medicine in various form factors.

SOURCE Holistic Industries