Booze companies keep entering the cannabis market with infused beverages
Molson and many other Canadian liquor companies are looking forward to the opening of recreational cannabis market in which they plan on selling their cannabis-infused drinks.
Back in the day, before cannabis was outlawed, tea made from cannabis leaves and flowers was one of the only drinkable versions of the plant.
It was, and still is, one of the perfect ways to get high without having to inhale any smoke. Just like eating edibles, this tea is generally much more potent and gives a longer high than smoking or vaping.
Seeing how cannabis-infused drinks are a great opportunity for alcohol companies to get in on the new market, and edibles are still outlawed, Canadian alcohol companies have seen it fit to announce they will soon start making these infused drinks.
Several months ago, US-based Constellation Brands, owner of the Corona brand, was the first alcohol company to enter the cannabis market. They acquired 10% of Canopy Growth for a “mere” $270 million USD.
The newest development in that sector happened just recently, as Molson Coors Canada teamed up with Hydropothecary Corp in order to start a joint venture which would penetrate this new market.
Molson Coors Canada announced they will have a 57.5% interest in the joint venture, and Hydropothecary will be holding the balance.
“While we remain a beer business at our core, we are excited to create a separate new venture with a trusted partner that will be a market leader in offering Canadian consumers new experiences with quality, reliable and consistent non-alcoholic, cannabis-infused beverages,” said Molson CEO Frederic Landtmeters.
Molson also announced that the new joint venture will be a standalone start-up with its own board and management team.
All those interested in working in the cannabis industry couldn’t ask for better timing, as cannabis companies are looking for employees in this new, growing industry.
If you are looking to get a job in the cannabis industry keep in mind that cannabis is still looked down on south of the border and that those working in the industry may be forbidden to cross the US border.
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