Exclusive Interview with Jushi Holdings CEO, Chairman and Founder Jim Cacioppo
Multi-state operator Jushi Holdings (CSE: JUSH) (OTCMKTS: JUSHF) has built its footprint with a concentration on profitability, and the company continues to actively expand its operations. Jushi Co-Founder and President Erich Mauff spoke with New Cannabis Ventures about the company’s progress in November 2020. Now, CEO, Chairman and Founder Jim Cacioppo checked in to talk about Jushi’s organic growth opportunities, making value deals and achieving significant revenue growth. The audio of the entire conversation is available at the end of this written summary.
Jushi has built its management team out over the past three and a half years. The company prides itself on low turnover, promoting internally over the past 12 months. It expects to announce changes to the team over the next two weeks, according to Cacioppo.
Jushi Footprint: The Big Three
In terms of value, Jushi considers Pennsylvania, Illinois and Virginia the “big three” states within its current footprint. In Pennsylvania, the company has 13 open stores and plans to take that number to 18 by the end of the year. It is also in the midst of expanding the grower/processor it acquired in the state last summer. The facility will go from 88,000 square feet to 190,000 square feet by the end of Q2 next year.
The Jushi Team in Ardmore, Pennsylvania
The company has four stores in Illinois. The annualized revenue for the retail location near East St. Louis averages in the high 20s and low 30s, according to Cacioppo. Jushi also has two stores located in the Bloomington-Normal area, a university town. With COVID restrictions rolling back and students returning to school, he expects to see an uptick in