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Greenlane and KushCo to Merge as Legal Cannabis Demand Booms

  • Combined company to sell services and products, but not plants
  • Firm will have market capitalization of about $400 million
Cannabis flowers sit on display inside a store
Photographer: David Kawai/Bloomberg
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Greenlane Holdings Inc. and KushCo Holdings Inc., providers of cannabis industry packaging, accessories and services, are merging in an all-stock transaction that coincides with a push to extend legalization in the U.S.

The companies said Wednesday in a joint statement that Greenlane shareholders will own about 50.1% of the combined entity, which will have a market value of about $400 million. Neither company is what the industry dubs “plant touching,” or distributing the actual cannabis plant.