News Briefs for October 18, 2018October 18, 2018
•Following the October 17 legalization of recreational marijuana in Canada, Breakthru Beverage Group Canadian subsidiary and cannabis sales brokerage arm Kindred Partners Inc. has named David Prodanovic as general manager. A seasoned beverage alcohol industry executive, Prodanovic has held executive roles at a variety of companies, including Labatt, Diageo, Constellation Brands, and Breakthru Beverage Canada. Elsewhere, the now-operational Kindred has also finalized its exclusive partnership with cannabis producer CannTrust Holdings Inc. Effective immediately, Kindred will provide a route-to-market for CannTrust’s four recreational brands: Iiiv, Synr.g, Xscape, and Peak Leaf. Breakthru first signed a letter of intent to become the exclusive distribution partner for CannTrust in September, purchasing 902,405 common shares of CannTrust at a purchase price of $10.23 a share, which culminated in gross proceeds of $9,231,600. Moving forward, Breakthru will have the option to purchase up to an additional 2,000,000 common shares.
•Cincinnati-based grocer Kroger Co. has launched Kroger Wine, a new wine delivery service. Kroger Wine offers consumers a selection of wines from California, Italy, France, and Spain in six- and 12-bottle allotments priced between $11-$17 a 750-ml., or around $70-$100 a 6-pack and $130-$190 a case. Customers can buy in one-time shipments or join Kroger’s wine club and receive 12 bottles every 13 weeks. Initially, home delivery is available in CA, FL, ID, LA, NE, NV, NH, NM, ND, OR, WV, VA, WY, and Washington D.C. Kroger is partnered with California-based Drinks Holdings Inc. to source the wines.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.