KushCo Holdings Inc (OTCMKTS:KSHB) isn’t a cannabis producer, but it may be one of the most interesting producers of equipment and goods related to consumption and production. In other words, it’s a “pick and shovel” play, named after the suppliers that sold picks and shovels to the hopeful prospectors headed up into the Yukon in search of gold. To further develop its story, the company just announced that the Company is changing the name of its Kush Bottles division to Kush Supply Co., effective October 1, 2018.
As company management noted in the KSHB press release, “The updated name better reflects the platform’s lateral transition to a more diversified business model, where the Company now supplies growers, extractors, infused product-makers, brands, and large multi-state operators with a range of products and services that meet and exceed the critical needs in their supply chains. In addition, with these clients experiencing hyper growth due to rapidly increased consumer demand, there is now more of a need for a one-stop supplier of core ancillary products who can scale with the market as it expands. Kush Supply Co. will be led by Jason Vegotsky, who will serve as the division’s President, after formerly serving as Vice President of Sales.”
KushCo Holdings Inc (OTCMKTS:KSHB) casts itself as the parent company to a diverse group of business units that are transformative leaders in the cannabis, CBD, and other related industries.
KushCo Holdings’ subsidiaries and brands provide exceptional customer service, product quality, compliance knowledge and a local presence in serving its diverse customer base. KushCo Holdings’ brands include Kush Bottles, a dynamic sales platform that is the nation’s largest and most respected distributor of packaging, supplies, and accessories, Kush Energy, which provides ultra-pure hydrocarbon gases and solvents to the cannabis and CBD sector, Hybrid Creative, a premier creative design agency for cannabis and non-cannabis ventures, and Koleto Packaging Solutions, the research and development arm driving intellectual property development and acquisitions.
Founded in 2010, KushCo Holdings has now sold more than 1 billion units and regularly services more than 5,000 legally operated medical and adult-use dispensaries, growers, and producers across North America, South America, and Europe.
KushCo Holdings subsidiaries maintain facilities in the five largest U.S. cannabis markets as well as having a local sales presence in every major U.S. cannabis market.
Moreover, the company provides various products and services for the regulated cannabis, CBD, and other related industries. It distributes vaporizer products, packaging, supplies, and accessories, as well as offers branding services to cannabis operators; and provides hydrocarbon gases and solvents to the cannabis sector. The company also operates a creative design agency for cannabis and non-cannabis brands that provide brand strategy, design and marketing, Web application development, and e-commerce solutions.
In addition, it researches and develops packaging solutions to the pharmaceutical and veterinary industries. The company was formerly known as Kush Bottles, Inc. and changed its name to KushCo Holdings, Inc. in September 2018. KushCo Holdings, Inc. was founded in 2010 and is headquartered in Garden Grove, California.
KushCo Holdings Inc (OTCMKTS:KSHB) has posted nearly $41 million in total reported sales over its last four quarterly financial reports combined. That represents very impressive revenue growth of over 173% comped on a quarterly basis when its most recent quarter is compared to the year-ago data.
In addition, the company is battling some balance sheet hurdles. Cash levels are at $3.6 million against a mountain of $10.9 million in current liabilities.
However, shares of KSHB have powered higher over the past month on the growth side of that equation, rallying roughly 10% in that time on strong overall action. In addition, the name has witnessed a pop in interest, as transaction volume levels have recently pushed 10% above the average volume levels in play in this stock over the longer term.
“This brand change will be pivotal for how we communicate to our current and potential customers. Our value proposition continues to expand on a very frequent basis. We recognize the importance for key multi-state operators and extractors who are scaling to have a partner that can support all facets of their business. As we continue our own internal effort of explosive growth, as evidenced in our recent preliminary fiscal year 2018 revenue of $51 million, Kush Supply Co. will continue innovating and focusing on what we need to do to be that premier partner,” said Jason Vegotsky, President of Kush Supply Co.
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