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A Touch Base In Five Questions: Alex Pasternack of Binske

A Touch Base In Five Questions: Alex Pasternack of Binske

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I’ve been a big fan of Alex Pasternack pretty much since he got into business for a reason very personal to me. This reason was about family and how Alex has family who are supportive of his craft, something I could never say of my own family. They have forgotten me. I know, that sounds harsh, but it’s true. That’s why I was initially intrigued by his company, Binske. Sure the cannabis is world-class, everything I’ve tried resonates with me in a deeper sensibility. It’s craft cannabis- not your commercial, terpene sprayed candy flower. Binske is unique in the marketplace. But that’s not the whole of the story. Alex is a humanist, a thinker, an educator, and an intellect. Perhaps now you see where we are going? It’s a touch-base with a good friend, in words. That being said, thank you for your years-long friendship.

In this deeply competitive and often difficult cannabis space, it’s nice to know someone who is authentic in his craft and who clearly loves what he does. Because it leads to so much more in his life.

I wish I had more words to explain. Because there are many more things I’d like to say.

Until then, I remain. WB

Warren Bobrow: Please tell me what you’re working on now? Where is home base these days? Please tell me about your company. How many years now?

Alex Pasternack: I’m now entering my 8th year in the cannabis industry; can you believe it? I can’t. It’s been one exciting ride to say the least, but honestly, feel more bullish on our positioning now than ever before.

The company has rapidly grown and evolved from a single-brand, limited state offering into two primary divisions across dozens of revenue streams, including our house of brands and our genetic solutions business. About 2 years ago we acquired Oni Seed Co (originators of legacy genetics like Trop Cookies, Trop Punch, Papaya, Guava, Honey Banana, Tahiti Lime, etc.). Not only is Binske now fully powered by those genetics, but we also brought the Oni brand into the legal markets, and it’s currently available in 2 states with 3 more launching soon. Binske also continues to expand its footprint with upcoming addition of MA, NJ, IL, and NY.

On the genetics front, we license genetics and related intellectual property, as well as provide cultivation services, to cultivators around the world. These operators get to benefit from the increased efficiencies of these varietals and know-how; a win-win for both sides.

WB: What obstacles do you have? How do you anticipate removing them? Six and twelve month goals?

AP: Our primary obstacles remain geared around legalization and the inherent difficulties surrounding that, including the lack of interstate commerce, which of course makes for a lot of strategic thinking and problem solving when trying to grow our brands and business lines. With that said we anticipate certain of the walls coming down sooner than later and believe we will hold a very strong position once that does happen. This is where our asset light model has really been beneficial and believe will help solidify our position in the future. We’ve been able to navigate not only the regulatory environment, but the economic and capital market environments in a very efficient and effective manner.

WB: New markets that you are considering? Maybe new products?

AP: From the brand side, we are days away from launching Binske in Massachusetts. The flower is looking incredible, and we are very excited about this launch. After MA, we will turn on NJ and IL.

We are also in a position to launch Binske in NY in time to have products on the shelves by the Summer. Other than those states, we have our sights set a several additional Northeast, Mid-Atlantic and Mid-west states with great potential.

The Oni brand will also see launches in many of these states, while our genetic solutions business is gaining traction both domestically with some of the country’s largest operators and abroad as we look to take advantage of the international momentum.

On the new products side, we launched Oni solventless and solventless vapes and have barely been able to keep them on the shelves! Binske also just launched rosin carts in Colorado this week!

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WB: Do you have a mentor? What books have you read lately? What restaurant are you thrilled with right now? Any fabulous wine?

AP: I don’t have a mentor right now unfortunately but would like to change that. Most recently read a Joe Dispenza book which was quite interesting, always looking to grow! Hmm, I just spent a few weeks down in Mexico City and the restaurant scene there is out of this world. Highly recommend Contramar. Check it out if you can. Been also spending a lot of time in wine country outside of Napa in St. Helena. The one wine that comes to mind is one called Memento Mori. We just went an incredible event at their vineyard, and I have to say it’s currently my favorite wine.

WB: What is your passion?

AP: My passion is traveling and experiencing different cultures. I love going to a new country and finding foods that I can’t seem to find at home. Decided to start taking Spanish classes again to brush up on my skills! I’m also really passionate about sports, both playing as well as following. I’m usually doing something active to sweat every day, and usually watching NBA/NFL when I have some free time!

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Photo Credit: Peach strain bud courtesy of J. Ward

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