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1. April 2021
Market Watch News Trends & Insight

Analysis: Greenlane and KushCo Merger will Create Cannabis Powerhouse

Following yesterday’s announcement, that Greenlane Holdings Inc. and KushCo Holdings Inc., have agreed to merge in a deal that will bring together two of the leading U.S. cannabis brands, we look at what the transaction will mean for the combined company going forward.

Greenland + KushCo

The deal, announced Wednesday, will see Greenlane shareholders own about 50.1% of the combined entity, which will have a market value of about $400 million. The transaction will bring together two of the pioneering cannabis ancillary product and services companies, with a combined 25 plus years of operating history.

The completion of the Transaction is subject to applicable regulatory approvals, including by Nasdaq, in addition to certain customary closing conditions, as well as approval by holders of a majority of the shares held by the existing Greenlane stockholders.

This transformative transaction is expected to create a broad and complementary platform that we expect to deliver substantial synergies at an important inflection point in the cannabis industry,” said Aaron LoCascio, Chief Executive Officer and Co-Founder of Greenlane. “As an industry leader, the combined company will be well positioned to grow profitability and maximize value for all stockholders while also providing enhanced product offerings and expanded ancillary services to our valued customer bases. We are thrilled to be working with the talented and experienced KushCo team, and together we will continue to drive innovation and excellence in the space. Since Greenlane’s founding in 2005, we have been at the forefront of the cannabis industry, and today we take the next step in our continued evolution.”

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