This company wants to be the Bacardi of cannabis — and it has plans for an IPO.
Cannabis entrepreneurs hoping to succeed in a sector that's expected to be worth billions of dollars in sales need to understand the power of brands.
Wallin should know. A former chairman and president of the Wine and Spirits Wholesalers of America, his long career in the alcohol business started at National Wine & Spirits, which he helped grow into a $1 billion company with more than 36,000 retail customers and a workforce of 1,500. THC and CBD are ingredients found in the cannabis plant; THC is the psychoactive ingredient that creates the “high” associated with cannabis, while CBD is nonintoxicating but is widely held to have wellness benefits.
In Arizona, Vertical has a 52,000-square-foot indoor grow facility in Kingman. It has a 90,000-square-foot hemp manufacturing, production and processing facility in Cadiz, Ky., on 14 acres of new land. The hemp production is for the company’s Vertical Wellness business, which was spun out of the parent late last year following the passage of the 2018 Farm Bill, which legalized hemp throughout the U.S.
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