Greenlane Enters Into Agreement To Distribute Greenlane Brands in Mexico
BOCA RATON, FL / ACCESSWIRE / January 31, 2023 / Greenlane Holdings, Inc. ("Greenlane" or the "Company") (NASDAQ:GNLN), one of the largest global sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, announced today that it has entered into distribution agreement with Zhar Capital to distribute its proprietary portfolio of brands (the "Greenlane Brands") in Mexico.
Greenlane has partnered with Zhar Capital to promote, market, distribute and sell the Greenlane Brands to retailers for resale in Mexico.
"We look forward to offering our innovative and premium products in the growing Mexico market through our partnership with Zhar Capital," said Craig Snyder, CEO of Greenlane. "Their knowledge and expertise of business practices in Mexico allows us to expand into this rapidly growing consumer market in an efficient manner. We are excited to offer our brands in Mexico for many years to come."
Luis M. Rodríguez and Teófilo Huerta, Co-Founders of Zhar Capital, added, "We are pleased to partner with Greenlane to offer their premium products to customers in our region. Offering cutting edge accessories is an exciting step forward in providing more options to the expanding market."
About Greenlane Holdings, Inc.
Greenlane is the premier global platform for the development and distribution of premium cannabis accessories, packaging, vape solutions, and lifestyle products. We operate as a powerful family of brands, third-party brand accelerator, and omni-channel distribution platform, providing unparalleled product quality, customer service, compliance knowledge, and operations and logistics to accelerate our customers' growth.
As a pioneer in the cannabis space, Greenlane has an incredible acumen for detecting opportunities in the marketplace. We proudly own and operate a diverse brand portfolio including DaVinci Vaporizers, Pollen Gear™, Higher Standards, Groove, and Eyce. Additionally, Greenlane strategically partners with leading multi-state operators, licensed producers, and brands, such as Storz & Bickel (Canopy-owned), Grenco Science, VIBES, and CCELL, to develop and distribute innovative and high-quality products.
Founded in 2005, Greenlane serves an expansive customer base comprised of thousands of retail locations, including licensed cannabis dispensaries, smoke shops, and specialty retailers. Greenlane also owns and operates Vapor.com and VapoShop.com, two industry-leading, direct-to-consumer e-commerce platforms in North America and Europe respectively.
For additional information, please visit: https://gnln.com/.
About Zhar Capital
Zhar Capital is a family office dedicated to developing business opportunities in Mexico. Through alliances with foreign and local companies, we seek to maintain an important presence in the country.
It was born as a firm specialized in providing accounting and financial consulting services. Participating in projects in industries such as medical, retail, agribusiness, real estate, infrastructure, oil and gas and electricity. Through alliances, the firm has positioned itself as a company through which American companies seek to introduce their products to the Mexican territory. One success story (2019-2022) was MagicalButter Mx, a company that is working hard to bring consistent, high-quality infusions and edibles to cannabis patients everywhere.
Currently in the portfolio there are companies focused on the import and sale of consumer products. Zhar advises companies in the entertainment, sports, medical and agribusiness industries.
Forward Looking Statements
Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statements. These forward-looking statements include, among others, statements relating to: the current and future performance of the Company's business, including expected benefits from the distribution agreement with Zhar Capital; the Company's business in emerging markets globally and expectations regarding the development of the Mexican market; the ongoing implementation of initiatives intended to increase sales and the efficiency and scalability of the Company's business; comments relating to the Company's proprietary Greenlane Brands; and the Company's financial outlook and expectations. For a description of factors that may cause the Company's actual results or performance to differ from its forward-looking statements, please review the information under the heading "Risk Factors" included in the Company's most recent Annual Report on Form 10-K for the year ended December 31, 2021, the Company's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2022, and the Company's other filings with the SEC, which are accessible on the SEC's website at www.sec.gov. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to Greenlane on the date hereof. Greenlane undertakes no duty to update this information unless required by law.
SOURCE: Greenlane Holdings, Inc.
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Released January 31, 2023