Greenlane Acquires Eyce, The World’s Leading Brand of Silicone Smoking Products
March 03 2021 - 7:00AM
Greenlane Holdings, Inc. (“Greenlane” or “the Company”) (Nasdaq:
GNLN), a global house of brands and one of the largest sellers of
premium cannabis accessories, child-resistant packaging, and
specialty vaporization products, today announced it acquired the
Eyce brand and substantially all of the assets of Eyce, a leading
manufacturer of specialty silicone smoking products (“the
Acquisition”).
“Eyce is the definitive leader in premium
silicone smoking products and a trusted Greenlane partner for more
than seven years. We are very excited to welcome them as the newest
addition to our in-house family of brands,” said Aaron LoCascio,
Co-Founder and CEO of Greenlane. “Eyce’s premium products and
innovative designs set them apart and we are thrilled to be working
with the highly experienced and talented Eyce team to accelerate
growth in the Greenlane brands portfolio.”
Mr. LoCascio continued, “The Eyce acquisition
represents the latest step in Greenlane’s relentless focus to find
and acquire the highest quality brands and platform extensions in
the cannabis market to further drive our revenue growth and
profitability and deliver value to our shareholders. We have
carefully built a robust pipeline of targets and we intend to add
additional brands to our portfolio in the near term as we continue
to execute on this growth plan.”
Charlie Hoch, CEO of Eyce, added, “Greenlane has
been an incredible partner over the years and their platform has
been instrumental in enabling us to rapidly launch products into
the market and build scale. We are thrilled to be joining the team
and continuing to work together to accelerate development of the
innovative products our customers demand.”
The Acquisition is expected to be immediately
accretive to Greenlane’s revenue and earnings.
About EyceEyce is the leading
manufacturer and product development company that specializes in
silicone smoking products. Their ground-breaking and innovative
product development and design work has made them a preferred
choice around the world for those seeking superior experiences from
reliable products. Eyce was founded in 2013 with their completely
original Eyce Water Pipe Mold and since then has grown to create
many other leading products in the counterculture industry.
About Greenlane Holdings, Inc.
Greenlane Holdings (NASDAQ: GNLN) is a global
house of brands and one of the largest sellers of premium cannabis
accessories, child-resistant packaging, and specialty vaporization
products to smoke shops, dispensaries, and specialty retail stores,
as well as direct to consumer through its online e-commerce
platform, vapor.com. Founded in 2005, Greenlane serves more than
11,000 retail locations and has over 250 employees with operations
in 13 cities across the United States, Canada, and Europe. With a
strong global footprint, Greenlane has been the partner of choice
for many of the industry’s leading brands, who chose to leverage
its strong distribution platform, unparalleled customer service,
and highly efficient operations and logistics to accelerate their
growth. Greenlane’s curated portfolio of house brands includes
packaging innovator Pollen Gear™, VIBES™ rolling papers, Marley
Natural™ Accessories; K.Haring Glass Collection, Aerospaced
grinders and Higher Standards, which offers both an upscale product
line as well as an innovative retail experiences with flagship
stores located in Chelsea Market, New York and Malibu,
California.
For additional information, please visit: https://gnln.com/.
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: comments relating
to the current and future performance of the Company’s business,
including the impact of the Eyce acquisition on the Company’s
future revenue and earnings; the impact of the ongoing COVID-19
pandemic on the Company's business; growth in demand for the
Company’s products; growth in the market for cannabis and nicotine;
the Company’s marketing and commercialization efforts; future
acquisition activity; the possibility of post-closing contingent
payment 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, 2019 and the Company's other
filings with the SEC, which are accessible on the SEC’s website at
www.sec.gov. Additional information is also set forth in
Greenlane's Quarterly Report on Form 10-Q for the quarter ended
September 30, 2020. 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.
Media Contact:MATTIO
CommunicationsGreenlane@mattio.com
Investor Contact:Rob
KellyInvestor Relations, MATTIO
CommunicationsGreenlane@mattio.com1-416-992-4539
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