Canadian cannabis companies Canopy Growth Corp. and Acreage Holdings Inc. jointly plan to launch THC-infused beverages in the U.S. next year.
"Leading with legal adult-use markets in Illinois and California, Acreage anticipates launching Canopy Growth’s select, sessionable THC beverage formulations in summer 2021," they announced today (Oct. 1).
“We have had an incredibly successful introduction into the Canadian cannabis-infused beverage industry with over 1.7 million cans of our THC-infused RTD beverages, like Tweed’s Houndstooth & Soda and Bakerstreet & Ginger sold to date,” said Canopy Growth CEO David Klein. "We are excited for Canopy’s beverages to be introduced to the U.S. market next summer.”
While not mentioned in the news release, one can't help but assume there will be distribution help from Klein's former and still pseudo-employer, Constellation Brands. The U.S.-based spirits company has invested at least $4 billion in Canopy, controls an estimated 39% of the company (with options to hit 56%) and installed Klein – then Constellation's EVP and CFO – as Canopy CEO this January.
