The leader of a California cannabis packaging company said the key to driving the legalization of pot starts with the medical aspect.
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“If you have a child suffering from seizures, epilepsy and this is something that could potentially help or fix that, you’re obviously going to be an advocate," KushCo Holdings Chairman and CEO Nick Kovacevich told FOX Business' Maria Bartiromo on Wednesday adding that others can be convinced by the tax revenue, which can help fund a lot of programs in states that have budget deficits.
The company, which has sold more than 1 billion units to growers, processors and producers across the globe is making its name in the industry as more markets open.
“Our growth is out of this world,” KushCo Holdings Chairman and CEO Nick Kovacevich told Fox's Maria Bartiromo on Wednesday. “Last quarter we announced, we went from $10 million in sales last year to $35 million, so we’re up almost 250 percent.”
According to Kovacevich the company is growing in states where cannabis is legal but also anticipates another boost once others pass laws.
“When these markets come on line, they come on line in a very big way,” he said. “It’s good for our business, it’s good for our customers’ businesses, it’s good for the consumers that need access to the product, but it’s also really good for the state, because they’re generating a ton of tax revenue.”
Because the industry is heavily regulated, Kovacevich said the company has to make sure its product portfolio is completely compliant so clients stay on the right side of the law.
“One of our main staples is packaging, with a focus around child safe and child resistant packaging,” he said adding that “we help the rule makers when it comes to things like packaging regulations.”