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Canopy Growth, Greenlane Strike Exclusive Distribution Deal For Storz & Bickel Vaporizers

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Canopy Growth, Greenlane Strike Exclusive Distribution Deal For Storz & Bickel Vaporizers
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Greenlane Holdings, Inc. (NASDAQ: GNLN) and Canopy Growth Corporation (NYSE: CGC) announced a partnership Thursday for the exclusive distribution of Storz & Bickel vaporizers throughout the United States.

Greenlane is a major global distributor of cannabis accessories, CBD and liquid nicotine products. The company reaches more than 11,000 retail locations and plans to expand its consumer base.

“Since Greenlane’s inception in 2005, we have worked with Storz & Bickel to launch dozens of its products, which includes 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. "This exclusive distribution partnership will drive further growth of the Storz & Bickel brand and support Canopy’s goal of leading the vaporizing category around the world."

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Greenlane became Storz & Bickel’s exclusive U.S. distribution partner in January 2018, a few months before the premium vaporizer designer and manufacturer was acquired by Canopy Growth in December 2018 for $145 million.

“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, Canopy Growth's chief technology officer.

Greenlane said it will continue to distribute Storz & Bickel’s products to the Canadian market.

The company expects to use its North American distribution network — which includes smoke shops, vape shops and licensed cannabis dispensaries — to expand distribution of Storz & Bickel products and launch the new Volcano Hybrid.

The desktop vaporizer is a dual system, balloon or tube, and is Storz & Bickel's new flagship product.

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Posted-In: Aaron LoCascio CBD marijuana Peter PopplewellCannabis News Top Stories Markets Best of Benzinga

 

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