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Greenlane Holdings, Inc. (NASDAQ: GNLN) is recognized as a leading distributor of premium brands within the head shop, smoke shop, and dispensary channels. Founded in 2005, Greenlane has established itself as an industry leader by offering innovative products, competitive pricing, and exceptional customer service. The company operates as a global platform, distributing a wide range of smoking accessories, vape devices, and lifestyle products to thousands of producers, processors, specialty retailers, smoke shops, convenience stores, and end consumers.
Greenlane's product portfolio includes vaporizers, parts, cleaning accessories, grinders, storage containers, pipes, rolling papers, and customized premium packaging. The company markets its products through business-to-business and business-to-consumer channels in the United States, Canada, and Europe, with a majority of its revenue derived from the U.S. market.
Greenlane's proprietary brands include DaVinci Vaporizers, Higher Standards, Groove, and Eyce. The company also holds exclusive licenses for Marley Natural and K.Haring branded products. Notable collaborations include renowned brands such as Storz & Bickel, Pax, VIBES, and CCELL. Greenlane's varied product offerings are available through its e-commerce platforms, including Vapor.com, Vaposhop.com, DaVinciVaporizer.com, PuffItUp.com, EyceMolds.com, HigherStandards.com, and MarleyNaturalShop.com.
Recent milestones include the launch of the DaVinci ARTIQ, a portable vaporizer featuring clean technology and a user-friendly design. Greenlane has also expanded its product line to include disposable nicotine offerings, aligning with consumer demand and market trends. Financially, the company has shown a commitment to growth and profitability through strategic product launches and operational efficiencies.
In August 2023, Greenlane achieved significant progress by repaying its outstanding asset-based loan, thereby fulfilling its financial commitments and acquiring additional cash for future endeavors. The company's recent financial results highlight a continuous effort to improve margins, reduce costs, and achieve profitability by Q4 2023.
For more information about Greenlane Holdings, Inc., please visit their investor relations website at https://investor.gnln.com.
Greenlane Holdings (GNLN) and KushCo Holdings announce their enterprise leadership team following their proposed merger.
Nick Kovacevich will serve as CEO, while other key roles include Bill Mote as CFO and Aaron LoCascio as President. The leadership team aims to deliver revenue and cost synergies, enhance profitability, and maximize shareholder value.
The merger is expected to close by late Q2 or early Q3 2021, pending regulatory and stockholder approvals.
Greenlane Holdings and KushCo Holdings announced their leadership team following the planned merger, aimed at enhancing profitability and shareholder value. Nick Kovacevich will serve as CEO, with Bill Mote as CFO and Aaron LoCascio as President. The team also includes notable executives such as William Bine (COO) and Rhiana Barr (CPO). The merger is anticipated to conclude by late Q2 or early Q3 2021, pending regulatory approvals. This strategic move is positioned to create a leading ancillary cannabis company.
This press release details the merger agreement between Greenlane Holdings (NASDAQ: GNLN) and KushCo Holdings, marking a strategic consolidation in the cannabis ancillary sector. The deal is projected to yield over $250 million in pro forma revenue for 2020 and generate $15 to $20 million in cost synergies. The exchange ratio offers KushCo shareholders a 6.3% premium. The merger aims to enhance product offerings and expand market reach, with combined management expertise expected to drive growth, pending regulatory approvals.
Greenlane and KushCo have announced a merger agreement that will see KushCo become a wholly owned subsidiary of Greenlane. The transaction, expected to close in late Q2 or early Q3 2021, aims to create a leading ancillary cannabis company with a pro forma revenue exceeding $250 million for 2020. KushCo shareholders will receive approximately 0.2546 shares of Greenlane stock for each share they own, giving them about 49.9% of the combined entity. This merger is projected to yield $15-$20 million in annual cost-saving synergies and expand market opportunities across the cannabis supply chain.
Greenlane Holdings (GNLN) reported a 46.3% increase in revenue for FY 2020, totaling $138.3 million, despite a 25.2% decline from FY 2019. Core revenue rose 12.7% to $125.2 million and Greenlane branded sales jumped 50.5% to $7.8 million in Q4 2020. Merchandise gross margin improved to 28.2% from 15.7% in FY 2019. However, cash decreased by 36.3% year-over-year to $30.4 million. The company aims to enhance its revenue mix and cost structure while expanding its global distribution post-acquisition of Eyce.
Greenlane Holdings (NASDAQ: GNLN) announced a conference call scheduled for March 31, 2021, at 8:30 a.m. ET to discuss its financial results for the fourth quarter and year ended December 31, 2020. The call will follow the release of the financial results. Investors can access the call via a provided webcast link or by phone at (833) 519-1285 with Conference ID 1881585. A replay will be available until April 14, 2021. Greenlane is a leading seller of cannabis accessories and operates in multiple regions, serving over 6,000 customers globally.
Greenlane Holdings (NASDAQ: GNLN) has launched the VIBES™ Organic Hemp Rolling Papers and Cones Collection. This new product reflects a commitment to sustainability and enhancing the smoking experience for connoisseurs. Made from 100% organic hemp fibers and featuring organic Arabic gum for a natural seal, the line showcases a variety of sizes including 1 ¼, King Size Slim, and Cubano. Co-founder Berner emphasizes the superior quality of the product, aiming to cater to discerning smokers. The collection is available at select retailers with limited availability.
Greenlane Holdings (NASDAQ: GNLN) has acquired Eyce, a leader in specialty silicone smoking products, enhancing its portfolio of premium cannabis accessories. This strategic acquisition aims to drive revenue growth and profitability for Greenlane, with the company expressing confidence in the immediate accretive impact on its earnings. Eyce's established market presence and innovative product offerings align with Greenlane's goal to expand its brand footprint in the cannabis sector. The acquisition reflects Greenlane's commitment to acquiring high-quality brands to leverage growth opportunities.
Greenlane Holdings, Inc. (NASDAQ: GNLN) will participate in SXSW’s Featured Session titled ‘Celebrities Redefining Cannabis Entrepreneurship.’ Moderated by Eric Hammond, the panel includes notable figures like Berner (CEO of Cookies), Al Harrington (Viola Brands), and Flo Storch (Koko Nuggz). The discussion will explore the evolving cannabis industry, addressing social and economic disparities and highlighting successful collaborations with influential entrepreneurs. Greenlane has been Berner's partner since 2019, working on initiatives like the VIBES rolling papers and Cookies-branded accessories.
Greenlane (NASDAQ: GNLN) has partnered with the Last Prisoner Project (LPP) to support cannabis-related criminal justice reform. Greenlane will contribute a portion of its sales from future product collaborations and will encourage customers to donate to LPP at checkout. This initiative aims to raise awareness of social injustices within the cannabis industry and assist individuals with cannabis convictions. The partnership aligns with Greenlane's commitment to social responsibility, reflected in CEO Aaron LoCascio's statement on their dedication to addressing inequality in the cannabis space.
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