Greenlane [NASDAQ: GNLN] Announces Acquisition of DaVinci

Greenlane Holdings, Inc. [NASDAQ: GNLN] disclosed that it has acquired DaVinci which is a leading developer and maker of premium portable vaporizers. GNLN believed that DaVinci leads the way in advanced portable vaporizers and the firm is excited to bring them into its owned brand portfolio.

DaVinci’s product line has increased substantially since the unveiling of its award-winning IQ vaporizer in 2016 to include new advanced models such as the MIQR,  IQ2, and the IQC. These are fitted out with a patented ShareSafe mouthpiece created from an FDA-authorized antimicrobial polymer.

Furthermore, Greenlane disclosed that this purchase perfectly demonstrates its mission of advancing all elements of the consumption experience. The firm is exploring ways to build on its recent success of purchasing strategic and profitable brands. The purchase execution depends on customary closing conditions.

It is anticipated that the acquisition agreement will be executed in the fourth quarter of 2021. It has been believed that after execution, the acquisition is anticipated to be immediately accretive to Greenlane’s revenue and earnings.