KushCo Will Open A Distribution Facility In Metro Detroit

KushCo Holdings Inc KSHB said Thursday it will develop a new distribution facility in Taylor, Michigan in order to support its operations in the Midwest.

The 40,000 square-foot facility will serve as an anchor for KushCo's growing operations in the Midwest, which includes Illinois, Michigan and Missouri. It will include a showroom, a sampling room, and office space for sales and operations teams.

Michigan and Illinois recently legalized adult-use cannabis, while Missouri last year legalized medical marijuana.

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The provider of ancillary services to the cannabis industry expects that the new facility will be able to optimize operational efficiencies and help grow customer relationships in the region.

Last quarter, KushCo saw 215% sequential growth in Michigan.

The move comes after a number of companies announced plans to expand or enter or expand in the Michigan market. Green Peak Innovations, which has over 30 medical cannabis licenses, announced in its new brand for the state last month. Canndescent also said it would invest $25.8 million to acquire real estate and licenses in Massachusetts, Michigan and Nevada.

KushCo's stock traded higher by 6.4% to $4.92 per share at time of publication.

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