Greenlane and Canopy Growth Announce Exclusive U.S. Distribution Partnership for Storz & Bickel Vaporizers
Exclusive Partnership Launches Next Generation Volcano Hybrid Vaporizer
BOCA RATON, Fla. and SMITHS FALLS, Ontario, Aug. 08, 2019 (GLOBE NEWSWIRE) -- Greenlane Holdings, Inc. (Nasdaq: GNLN) (“Greenlane”), one of the largest global sellers of premium cannabis accessories, CBD and liquid nicotine products, today announced a partnership with Canopy Growth Corporation (“Canopy Growth”) (TSX:WEED) (NYSE:CGC) for exclusive distribution of Storz & Bickel vaporizers throughout the United States.
|
|||||
With a 22-year track record of breakthrough innovations, Storz & Bickel is widely recognized as a global leader in vaporizer design and manufacturing. Based in Tuttlingen, Germany, Storz & Bickel introduced the iconic Volcano® product line in 2000 and through science, research and development, has continued to modernize and enhance the world’s leading desktop vaporizer. Storz & Bickel was acquired by Canopy Growth in December 2018 to accelerate the companies’ product device development capabilities.
Greenlane has been Storz & Bickel’s exclusive U.S. distribution partner since January 2018 and this exclusive partnership with Canopy Growth extends Greenlane’s U.S. exclusivity of Storz & Bickel’s vaporizers to drive continued growth in the U.S. market. Greenlane will continue to distribute Storz & Bickel’s products to the Canadian market, as well.
“Since Greenlane’s inception in 2005, we have worked with Storz & Bickel to launch dozens of its products, including introducing the legendary Volcano vaporizer to the U.S. market and establishing the Volcano as the gold standard of desktop vaporizers,” said Aaron LoCascio, Chairman and Chief Executive Officer of Greenlane. “We are proud to have helped Storz & Bickel become one of the leading brands of desktop and portable vaporizers and are very pleased to enter into this exclusive partnership with Canopy Growth to continue to expand distribution of the Volcano and their industry leading vaporizer products.”
Greenlane will leverage its extensive North American distribution network of more than 11,000 retail locations, including smoke and vape shops, and licensed cannabis dispensaries, to expand distribution of Storz & Bickel products and launch the new Volcano Hybrid, a next generation desktop vaporizer and reinvention of the iconic Volcano vaporizer. The Volcano Hybrid offers improved airflow management, swifter heat-up times, touch display, app control with Bluetooth connectivity, as well as a state-of-the-art dual inhalation system via valve balloon or tube, allowing for controlled, hassle-free vaporizing customized to the user’s personal taste.
“Greenlane has played an invaluable role in bringing the Volcano to market and this exclusive distribution partnership will further drive Canopy’s growth of the Storz & Bickel brand and Volcano product line in the U.S.,” said Peter Popplewell, PhD., Chief Technology Officer of Canopy Growth. “We are excited to launch the new Volcano Hybrid through this partnership and look forward to introducing new high tech vaporizers to the market as we continue to leverage our extensive R&D and commercialization efforts that will set a new bar in terms of quality, functionality and consumer safety.”
About Greenlane Holdings, Inc.
Greenlane (NASDAQ: GNLN) is one of the largest global sellers of premium cannabis accessories, CBD and liquid nicotine products. The Company operates as a powerful house of brands, third party brand accelerator and distribution platform for consumption devices and lifestyle brands serving the global cannabis, CBD, and liquid nicotine markets with an expansive customer base of more than 11,000 retail locations, including licensed cannabis dispensaries, and smoke and vape shops. Greenlane has an established track record of partnering with brands through all stages of product lifecycle, providing a range of services including product development, go-to-market strategy, sales and marketing support, market research, customer service, direct-to-consumer fulfillment, warranty repair, supply chain management, and distribution. In addition to owning and operating its own brands, Greenlane is the partner of choice for many of the industry’s leading players including PAX Labs, (Canopy-owned) Storz & Bickel, JUUL, Grenco Science, Firefly, DaVinci, Select, Sherbinski, Bloom Farms, Mary’s Nutritionals, Cookies and dozens of others. Greenlane’s house of brands is comprised of child-resistant packaging innovator Pollen Gear; VIBES rolling papers; the Marley Natural accessory line; the Keith Haring accessory line, Aerospaced & Groove grinders, and Higher Standards, which is both an upscale product line and an innovative retail experience with flagship stores at New York City’s famed Chelsea Market and Atlanta’s Ponce City Market. The company also owns and operates Vapor.com, an industry leading e-commerce platform which offers convenient, flexible shopping solutions directly to consumers. For additional information, please visit: https://gnln.com/.
About Canopy Growth Corporation
Canopy Growth (TSX:WEED, NYSE:CGC) is a world-leading diversified cannabis, hemp and cannabis device company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms, as well as medical devices through Canopy Growth’s subsidiary, Storz & Bickel GMbH & Co. KG. From product and process innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time. Canopy Growth has operations in over a dozen countries across five continents.
Canopy Growth’s medical division, Spectrum Therapeutics is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public’s understanding of cannabis, and has devoted millions of dollars toward cutting edge, commercializable research and IP development. Spectrum Therapeutics sells a range of full-spectrum products using its colour-coded classification Spectrum system as well as single cannabinoid Dronabinol under the brand Bionorica Ethics.
Canopy Growth operates retail stores across Canada under its award-winning Tweed and Tokyo Smoke banners. Tweed is a globally recognized cannabis brand which has built a large and loyal following by focusing on quality products and meaningful customer relationships.
From our historic public listing on the Toronto Stock Exchange and New York Stock Exchange to our continued international expansion, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth. Canopy Growth has established partnerships with leading sector names including cannabis icons Snoop Dogg and Seth Rogen, breeding legends DNA Genetics and Green House Seeds, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth owns 12 licensed cannabis production sites with millions of square feet of production capacity, including more than one million square feet of GMP certified production space. For more information visit www.canopygrowth.com
Media Contact:
Cory Ziskind
ICR
646-277-1232
greenlane@icrinc.com
Investor Contact:
Scott Van Winkle
ICR
617-956-6736
scott.vanwinkle@icrinc.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cbc85577-9ad2-4f8e-9ad1-4942dbcf4199
Released August 8, 2019