Canopy, Acreage Line Up U.S. Beverage Launch For Next YearOctober 6, 2020
Smiths Falls, Ontario-based Canopy Growth is set to introduce cannabis-infused drinks in the U.S. next year through its partnership with New York-based Acreage Holdings, which already has the rights to Canopy’s brands in the U.S. as part of the two companies’ arrangement to merge following federal legalization.
Acreage plans first to launch Canopy’s beverage formulations in California and Illinois, and expand into other states in the following months. The companies will focus on sessionability, emphasizing THC dosage “that will more closely liken itself to current beverage alcohol serving sizes,” according to the announcement. In a statement to SND, Canopy said, “The cannabis beverages available in dispensaries now aren’t sessionable, with most offerings dosed at 10mg or higher. At 2mg–5mg of THC, our beverages are a closer 1:1 comparison to the serving size of a beer, cocktail, or glass of wine.”
Canopy declined to say what brand names it would use in the U.S. or offer sales projections tied to the drinks. But in announcing the pending launch CEO David Klein pointed to the company’s strong rollout in Canada as an indication of what’s to come. “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,” he said. “Since launching in Canada, Canopy Growth now owns five of the top six SKUs in the beverage category with a 74% market share.” Acreage interim CEO Bill Van Faasen added, “We see THC-infused beverages as a game-changer in U.S. cannabis.”—Danny SullivanSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning. You will also receive the Cannabis edition as part of your subscription.
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