Stem Holdings recently announced its partnership with Red White & Bloom Brands Inc. in order to provide cannabis delivery services to a vast majority of Californians. More specifically, Budee, a Delivery-as-a-Service platform owner by Stem Holdings, has partnered with Platinum Vapes, a wholly-owned subsidiary of Red White & Bloom Brands Inc. This is a groundbreaking development that will bolster the success of both companies.
“This is a fantastic partnership for RWB, Platinum and cannabis consumers in California. We are very excited to be able to work with Adam Berk, CEO & Chairman of Driven By Stem and his team. Adam is the visionary that pioneered delivery in foodservice as the founder of Osmio, which was acquired by Grub Hub. These folks are experts in the in-home delivery space and through this partnership, we have the opportunity to deliver Platinum to the homes of 92% of Californians with speed and convenience. This will certainly increase our brand recognition and avail Platinum to a significantly greater number of consumers in this previously underserved market,” said Brad Rogers, CEO & Chairman of RWB
Budee itself employs over 350 delivery drivers that service customers in four strategically located distribution hubs in California. With a sizeable workforce and optimally placed distribution hubs, Budee is able to achieve the fastest same-day turnaround in the industry. Furthermore, this partnership will greatly increase the availability of Platinum’s premium cannabis products in California while matching an increasing demand for cannabis delivery. Platinum’s consumers will be able to purchase their favorite products via online express or overnight home delivery. The convenience of ordering online expedites the purchasing process while also increasing Platinum’s brand recognition.
“We are pleased and proud to partner with Red White & Bloom to expand the distribution footprint of this leading brand, ensuring that its many consumers can quickly and personally receive the high-quality products they want in the comfort and safety of their homes…we expect that this trend will continue to grow as home delivery continues to significantly increase its share of wallet in cannabis and other sectors,” concluded Adam Berk, CEO & Chairman of Driven By Stem.
Stem Holdings partnership with Red White & Bloom Brands Inc. demonstrates the company’s confidence in a growing market surrounding cannabis products and delivery services. Through the acquisition of e-commerce platforms like Budee, Platinum will have no issue meeting an increased demand for home deliveries. Stem Holdings’ hopes are high but that wont stop them from expanding their footprint on the industry.
The news has not influenced the company’s stock price significantly.