Connect with us

Hi, what are you looking for?

Saturday, Sep 30, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


StateHouse enters partnership with Nabis to decrease its distribution costs

Nabis is one of the largest cannabis distributors in California

StateHouse enters partnership with Nabis to decrease its distribution costs
Photo by Elsa Olofsson via Pexels.

StateHouse Holdings Inc. (CSE: STHZ) (OTCQX: STHZF) has now made a strategic business move aimed at cutting costs while maintaining efficiency.

On Tuesday, the California cannabis company announced that it had engaged in a partnership with Nabis, one of the largest cannabis distributors in the Golden State.

The company is one of over 200 utilizing Nabis services, and as of today, the distributor has assumed all of StateHouse’s distribution obligations.

StateHouse enters partnership with Nabis to decrease its distribution costs

Various Nabis partners. Photo via Nabis.

Read more: Global cannabis market to reach US$82.3 billion by 2027: ReportLinker

Read more: Cannabis Media Council forms to educate masses and destigmatize pot use

“We are so honored to be a part of the StateHouse portfolio that will help drive the brands’ already impressive momentum, facilitate their scale and make it much easier for their 14 California dispensaries to consolidate orders and deliveries,” said Jun S. Lee, co-founder of Nabis.

StateHouse says that the scale of the Nabis platform will enable the company to expand its brands throughout California and that the new partnership will save the organization millions of dollars. Those savings will be achieved through reduced insurance costs, banking fees, fuel expenses, truck leasing bills and overtime pay.

The company also says that outsourcing its distribution will allow it to focus on improving its wholesale and retail operations.

“We are very pleased to enter this strategic partnership with Nabis, a strong and reliable distribution partner that has extensive reach across California,” said Ed Schmults, CEO of StateHouse.

“The cost reductions and expanded distribution footprint that we anticipate from this partnership will be highly beneficial as we work to build a business that we expect will be EBITDA positive next year.”


Follow Mugglehead on Twitter

Like Mugglehead on Facebook



Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

AI and Autonomy

This is the largest acquisition the technology company has ever made and the sector's largest transaction this year

AI and Autonomy

Following an initial investment, the deal could potentially be worth up to US$840 million plus royalties


Ontario was the top contributor, generating $167.8 million in the last month of Q2 this year


The Hell's Kitchen project will produce up to 300K metric tons of lithium carbonate equivalent yearly when fully developed