Cannabis Leaders Nabis And The Parent Company Forge Exclusive Distribution Partnership
SAN FRANCISCO--(BUSINESS WIRE)--Nabis, the leading licensed cannabis wholesale platform in the world’s largest legal cannabis market, today announces a transformative distribution partnership with The Parent Company (“TPCO”) (NEO: GRAM.U, OTCQX: GRAMF), a leading consumer-focused California cannabis company, that will optimize efficiencies while bringing top brands to dispensaries across the Golden State. Beginning this month, Nabis will distribute all of TPCO’s products, including Monogram and other TPCO-owned brands, to licensed retailers with the best quality of service.
“We are excited to be the exclusive wholesaling partner for The Parent Company,” said Vince Ning, Co-CEO and Co-Founder of Nabis. “Their world-class team’s dedication to technology as a way to lower costs, and devotion to bringing the best quality products to market, mirrors Nabis’ long-term investments in our innovative platform that connects brands with retailers, giving consumers better access to legal cannabis products.”
Bringing together two of the largest cannabis companies in California also creates efficiencies for retailers, which will receive TPCO’s portfolio of brands with 2-day shipping turnaround times as well as a streamlined transactional process that increases sales velocity. Retailers will be able to purchase smaller order sizes more frequently, to optimize their cash flow and storage space onsite.
Prior to partnering with Nabis, TPCO relied on self-distribution for its diverse portfolio. Through this engagement, TPCO will fulfill its vision with a strong strategic partner to generate efficiencies that lead to lower costs across the entire supply chain. By streamlining wholesaling and improving market penetration, the partnership also allows TPCO to invest even more in research, development, innovation and new product and brand launches.
“Efficiently scaling the reach of our brands and high-quality products to a broader audience of California consumers while reducing our expenses and removing unnecessary complexity from our organization is what drew us to Nabis,” said Troy Datcher, CEO and Chairman of The Parent Company. “They are a trusted partner that reflects our values and, importantly, our commitment to provide unparalleled service to our customers.”
Adding TPCO’s suite of brands deepens Nabis’ California market share and enriches its standardized end-to-end wholesaling network, which serves all brand and retail partners with speed, reliability and product selection. In addition, cost savings passed on to consumers help combat the illicit cannabis market with more competitively-priced legal cannabis products.
“As the global economy and cannabis market continue to experience recessionary turmoil, it is important that infrastructural foundations of the cannabis industry continue to partner closely to ensure stability for the broader industry,” said Ning. “This thrilling partnership offers Nabis, TPCO, retailers, and consumers, strengthened financial security and enhanced operational efficiencies. We are eager to get started and help each other scale further.”
For more information on Nabis’ platform and services, please visit nabis.com.
Nabis is the #1 licensed cannabis wholesaling platform in California, supporting over 200 exclusive brands and supplying the entire network of state-licensed dispensaries with top-tier products. Nabis offers clients lightning-fast fulfillment, warehousing, payment processing, financing, data analytics, sales and marketing services to enable more brands and retailers to innovate, launch and scale. Founded in 2018 by serial tech entrepreneurs Vince C. Ning and Jun S. Lee, Nabis is fueled by cutting-edge technology designed to support cannabis wholesaling between brands and retailers. Nabis works directly with its partners to streamline the regulated cannabis wholesaling process by leveraging actionable, industry-leading sales data and insights to help brands and retailers scale strategically. Learn more: nabis.com
About The Parent Company
The Parent Company is a leading consumer-focused, vertically integrated cannabis company with eleven retail locations, six delivery hubs and a curated product portfolio including Monogram by Shawn “JAY-Z” Carter, Caliva, Mirayo by Santana, Fun Uncle and Deli. The Parent Company is committed to leveraging its status to help build a more equitable cannabis industry. Its social equity venture fund aims to eliminate systematic barriers to entry and provide minority entrepreneurs with meaningful participation, growth, and leadership opportunities in the multibillion-dollar legal cannabis industry. Shares of The Parent Company common stock are traded on NEO Exchange under the ticker symbol "GRAM.U" and on the OTCQX under the ticker symbol "GRAMF." For the latest news, activities, and media coverage, please visit www.theparent.co or connect with us on Instagram, LinkedIn, and Twitter.