Thanks, Najim, and welcome, Aaron, Bill, and Stephen, and a special good morning and thank you to everyone for joining us today, especially on such short notice.
Before we begin, I wanted to remind everyone that we will be referencing the supplemental presentation on today's call, which as mentioned earlier, can be found on the IR websites of both Greenlane and KushCo.
Now to the news of the day. This is such an exciting and transformative day for both companies, including our combined 350-plus employees, bringing together two of the largest ancillary cannabis products and services companies in this emerging industry. The combined company is expected to have pro forma revenue in excess of $250 million for the trailing 12 months reported by each company, which would be one of the highest for any company in the global ancillary cannabis industry. We anticipate that this transformative transaction will create considerable scale and synergies at an important inflection point in the cannabis industry.
As the leader in the ancillary cannabis sector, we believe the combined company will be strongly positioned to provide enhanced product offerings and expanded ancillary services to our valued customer bases while growing profitability and maximizing value for all shareholders. It is our belief that ancillary cannabis companies with scale, product range and innovation expertise are most likely to benefit in the long-term. And we believe this transformative transaction checks off all the boxes and will deliver sustainable and attractive returns for our shareholders.
Now with that, let's jump right in and turn to slide 3 of the supplemental presentation where we provide an overview of the strategic rationale for this transaction.
One of the major defining points of this transaction is the fact that we are combining robust differentiated and innovative offerings including company-owned brands and exclusive third-party products to create a comprehensive best-in-class product portfolio. The combined company will become the leading supplier of premium consumer brands and products, ranging from consumption devices and vaporizers to child-resistant packaging, papers, solvents and related merchandise. And the beauty of this is that both Greenlane’s and KushCo’s product offerings and customers complement each other very well, allowing for tremendous cross-selling opportunities. And speaking on behalf of the KushCo team, I can say that we have admired for quite some time the product and customer profile that the Greenlane team has built. And seeing the equal respect the Greenlane team has shown us over the years, I know the feeling is mutual. It's worth noting that these cross-selling opportunities exist across the entire value chain from some of the world's largest cannabis operators to leading retailers and all the way down to end consumers. Whereas, KushCo has excelled in serving the upstream market of growers, processors and brands, Greenlane has done a phenomenal job building out its downstream market of retail and direct-to-consumer channels. Together we are strongly positioned to be the partner of choice to a large and rapidly growing global customer base. The combined company will serve a premier group of customers, which includes many of the leading multistate operators and Canadian LPs, the majority of the top smoke shops in the U.S. and millions of consumers.
We will also be well-positioned for expanding our go-to-market channels even further as legalization expands and additional retailers carry more of our products. The combined company will not only have substantial breadth from a customer and product offering perspective, but just as importantly from a financial perspective.
In fact on a pro forma basis, the combined company generated approximately $250-plus million of revenue in calendar 2020 with a pro forma market capitalization north of $350 million as of March 29.
Following completion of this transaction, we believe the combined company will have a strong platform for accelerated organic growth and should be well-positioned to capitalize on attractive market opportunities as the industry further evolves. This platform includes both the potential revenue synergies I highlighted earlier, as well as significant potential cost synergies that should enable us to improve margins and enhance profitability. We're expecting the improved operating leverage and enhanced scale of the combined company to drive approximately $15 million to $20 million in cost saving synergies within 24 months of closing, as well as providing a strong trajectory for increased profitability. These synergies are expected to be realized from economies of scale an optimized distribution network and reduced operating expenses. And we're not planning to stop just there.
Our goal is to create an ever-expanding and robust platform that can drive business accretion for our stakeholders for many more years and decades to come as we integrate the two businesses and leverage the enhanced strategic position and financial profile of the combined company. And as I touched on earlier, the transaction comes at a pivotal time in our industry where multiple tailwinds are converging from customers rapidly gaining scale to new states legalizing cannabis and even the potential of full-blown federal legalization, which has never looked more likely to materialize than it does today.
Our joint platform positions the combined company to capitalize on these tailwinds across multiple geographies and to accelerate the growth both companies have experienced on a stand-alone basis. Ultimately, we're bringing together two of the pioneering cannabis ancillary product and service companies with a combined 25-plus years of operating history to catapult the combined company into significantly stronger positioning in this next stage of the industry's evolution.
Now that we've discussed the rationale, I'd like to turn to slide 4 of the supplemental presentation where we provide a high-level overview of the transaction itself.
First, in terms of the structure of the transaction, shareholders of KushCo will receive an estimated 0.2546 shares of Greenlane Class A common shares for every KushCo common share.
While the exchange ratio is subject to adjustment under the terms of our agreement, former KushCo holders will hold approximately 49.9% of the combined company's common stock and holders of Greenlane shares will hold approximately 50.1% of the combined company's common stock. The stock-for-stock business combination has been unanimously approved by each of the Greenlane and KushCo Board of Directors. It's also important to note that as part of the transaction, Greenlane's Class C shares will be converted to Class B common stock, resulting in equal voting interest for all shareholders of the combined company.
Following the close of the transaction, which we expect to occur in mid-2021 subject to customary closing conditions and regulatory approvals, I will lead the combined company and serve as its Chief Executive Officer. Bill Mote, Greenlane's current CFO, will serve as the Chief Financial Officer of the combined company. And Greenlane Co-Founder, Aaron LoCascio will remain with the combined company as President. The rest of the combined company's management team will have their respective officer positions and titles announced at a later date. Both of Greenlane's Co-Founders, Aaron LoCascio and Adam Schoenfeld will remain with the combined company as Directors. I've known Aaron and Adam for several years and it's been a tremendous pleasure getting to know them even more through this process. I'm extremely excited to work with them and the entire combined company's leadership team to execute on our corporate strategy and integrate these two businesses.
In terms of the Board of Directors, the combined company will have seven directors, four of whom will be nominated by Greenlane, including Aaron and Adam.
The other three directors will be nominated by KushCo, one of whom will be me.
In addition, the Chairman of the combined company will be selected from KushCo's and Greenlane's current Board of Directors. The combined company will be headquartered in Boca Raton, Florida, but will retain a sizable presence and footprint in Southern California. And last, but not least, the combined company will operate under the Greenlane corporate name and will retain Greenlane's current exchange listing and ticker, GNLN on the NASDAQ. I'll now hand it over to Aaron, who will walk us through slide 5, which showcases the significant breadth and depth of products and services, we will offer as a combined company.