Greenlane Holdings, Inc. (NASDAQ: GNLN) has entered into a distribution agreement with Universal Distribution LATAM LLC to distribute its proprietary portfolio of house brands in Latin America.
Under the terms of the agreement, Greenlane has granted Universal Distribution the exclusive right to promote, market, distribute and sell Greenlane Brands to retailers for resale in Chile, Uruguay and Argentina as well as non-exclusive rights to promote, market, distribute and sell the Greenlane Brands via all wholesale channels in other territories in South America, Central America, and Mexico.
As part of the agreement, Universal Distribution also has been granted the non-exclusive right to sell certain third-party brand products.
Universal Distribution has committed to the following sales targets within the first three years of the agreement to maintain exclusivity, consisting of both Greenlane Brands and select high-velocity third-party brand products:
Year 1: at …