Exclusive Interview with Platinum CEO George Sadler
George Sadler and his son Cody Sadler started their premium cannabis products company Platinum almost 10 years ago. They began as cultivators and then transitioned to extraction, launching Platinum Vape five years ago. Today, the company portfolio includes vape products, chocolates and gummies, and it has a footprint in three states. Sadler spoke with New Cannabis Ventures about his company’s approach to multi-state expansion, supporting social causes and why he believes so much in self-funding. The audio of the entire conversation is available at the end of this written summary.
A Family Business
Sadler owned a flooring business for almost 18 years, operating in California and Oregon. He moved back to Michigan, where he is from, and then back to California. When in college, his son Cody approached Sadler about the idea of getting into the cannabis space. They entered the space and have been working together ever since as partners in the business. Sadler’s other son and his daughter run the company’s Michigan operations.
The Platinum Operations Team
While a family business, Platinum has grown considerably; it has almost 200 employees. Sadler pointed to other important leaders, including Controller Vanessa Salladay; Janet Matula, who handles many different responsibilities, and Head of Manufacturing Matt Curran.
Sadler and his son Cody each own 50 percent of Platinum. They have fielded buy-out offers (some over $50 million, according to Sadler) and investor interest but have yet to take any of these deals. Sadler credits Cody’s financial acumen and their focus on expanding within the company’s means. Sadler points to the challenges many cannabis operators face now as they contend with debt repayment.
At this point in time, the company is not interested in being acquired. Sadler enjoys the freedom being self-funded affords,