Greenlane and KushCo to Merge as Legal Cannabis Demand Booms (2)

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.

KushCo sells cannabis-related packaging such as empty vape cartridges and child-proof caps, which are primarily bought by multistate operators and other cannabis companies. ...