Distribution is backed by a team with multigenerational cannabis experience and business acumen, according to President and CEO Ross Haley.
He and Hendrickson have been friends since they were young, and both co-founders have an entrepreneurial spirit.
The Truth Enterprises team came into the industry with the intention of focusing on the B2B supply chain, from seed to wholesale.
The company has a 55,000-square-foot facility in West Sacramento and a 40-acre farm in Yolo County.
The company distributes a comprehensive catalog of edibles, flower, prerolls and concentrates with brand names like West Coast Treez and PUFF prerolls.
M&A has played a prominent role in Haley’s career; he successfully exited a number of ancillary businesses in the cannabis space.
M&A is likely in the future for Truth Enterprises, but the exact type of deals and the timeline have yet to be determined.
Haley talks about the regulatory landscape with his board and advisors, and the team will prepare to act when that change moves closer.
Having the necessary supply chain capacity and packaging capabilities are essential to the business’s growth, according to Haley.
As a part of that experience, he helped Scott’s Miracle-Gro make some acquisitions via Hawthorne, facilitating some successful exits.
The company will be looking to drive growth through expanded capacity, and it will be looking to create more efficiency around the packaging and storage of cannabis.
The company uses KPIs throughout its operations, but customer-facing metrics are some of the most important.
Competition in the space is growing, and more product in the form of bulk wholesale and packaged goods is available in the market, according to Haley.