Canadian cannabis and alcohol company Tilray Brands has acquired brewer Molson Coors Canada’s remaining 57.5% interest in cannabis beverage joint venture Truss Beverage Co. for an undisclosed price.
Truss was originally a joint venture between Molson and Canadian company Hexo Corp., and launched a portfolio of cannabis-infused drinks in Canada in 2020.
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Hexo was acquired by Tilray this year.
Molson exited the U.S. CBD beverage aspect of the Truss joint venture with Hexo at the end of 2022, citing uncertainty in light of “no near-term pathway to federal (cannabis) legalization” in the U.S.
Tilray said in a Friday morning news release that Canada’s cannabis beverage market has “over 10.6 million potential consumers remaining untapped,” and that “cannabis beverages are almost $100 (million) at retail.”
“Regulatory shifts are expected to facilitate market entry for beverages, with the possibility of on-tap THC options in restaurants and bars
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