News Briefs for December 10, 2018December 10, 2018
•In case you missed it, Altria, the parent company of Ste. Michelle Wine Estates as well as Marlboro, on Friday announced a $1.8 billion investment in Canadian cannabis company Cronos Group. The deal gives Altria a 45% stake in Cronos, and it has secured the right to increase its holding to a majority 55% share. The full story can be found here.
•Cannabis beverage developer and supplier Sproutly Canada has appointed beer industry veteran Bryan Semkuley as its president. After three decades at companies including Anheuser-Busch InBev, Labatt, and Kimberly-Clark, Semkuley will spearhead Sproutly’s cannabis beverage and edibles business. Canada legalized recreational purchases of cannabis flower, oil, seeds, and plants on October 17, but the sale of beverages and edibles will only become legal next year. Sproutly is headquartered in Vancouver, British Columbia.
•Illinois-based importer and marketer Winesellers Ltd. has added a limited edition tawny Port from Quinta de la Rosa to its portfolio. Aged for 30 years in 550-liter oak casks, the Quinta de la Rosa 30-year-old Tawny Port pays homage to the Douro winery’s 30th anniversary. The new offering is retail-priced at $90 a 750-ml. and will roll out nationwide starting early 2019. Quinta de la Rosa’s Port bottlings also include a 20-year-old Tawny Port, a Late Bottled Vintage Port, and the Lote 601 Ruby Port, as well as a number of still red and white wines.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.