AB InBev joins pot industry with Tilray Beverage partnership

Marcus Newton
December 22, 2018

High Park Company develops, sells and distributes a portfolio of socially responsible cannabis brands and products in Canada.

Coca-Cola, Pepsi and Guinness brewer Diageo have said they are closely watching the market for cannabis as it evolves. THC is the ingredient in cannabis that makes you high. "Anheuser-Busch InBev produces and distributes numerous world's most iconic beverages and they seemed like an ideal partner for us".

In the cannabis industry's largest investment, Corona beer maker Constellation Brands added $4 billion to its $200m investment in Canopy Growth in August to help fund the Canadian cannabis producer's global expansion. Denver brewer Molson Coors, meanwhile, announced a joint venture with The Hydropothecary Corporation, a Canadian cannabis producer, and Marlboro maker Altria said it would invest $1.8 billion in Toronto-based Cronos Group.

Belgium-based AB InBev, the owner of more than 500 beer brands including Budweiser and Stella Artois, said it will participate in the project through its subsidiary Labatt Breweries of Canada.

A gradual increase in legalised recreational use of cannabis for adults in U.S. states and in medical cannabis around the world has sparked investment and partnership deals for Canadian companies.

A bottle of Durban Poison Cannabis Lager (supplied
A bottle of Durban Poison Cannabis Lager

With Democrats winning control of the US House of Representatives, Congress may finally pass the Farm Bill, which would make it legal to produce hemp and potentially open the door for more products containing cannabidiol (CBD), a element found in cannabis.

Labatt Breweries of Canada president Kyle Norrington said Labatt was committed to staying ahead of emerging consumer trends. Decisions about commercialisation will be made later, as marijuana edibles and beverages won't be legal in Canada until next year.

"By establishing a strict regulatory framework for these new cannabis products we are keeping profits away from criminals and organized crime". As consumers in Canada explore THC and CBD-infused products, our innovative drive is matched only by our commitment to the highest standards of product quality and responsible marketing. As public support for legalization grows, and growing public support for legalization-shifts that have given investors more confidence about backing companies in the space and enticed big players in the beverage and tobacco industries to make bets on cannabis products.

"We are delighted to be joining forces with a world-leading beverage company, AB InBev, to research how to create enjoyable cannabis beverage products".

"Tilray and AB InBev share a commitment to responsible product development and marketing, and we look forward to beginning our work on this important partnership as Tilray continues to pioneer the development of a professional, transparent and well-regulated cannabis industry", Kennedy said.

More news: Philippines Tops Gender Equality Ranking In Asia
More news: Mauricio Pochettino Open To Replace Jose Mourinho At Manchester United
More news: Go Ahead, President Trump, Please Withdraw from Syria Already!

Other reports by MaliBehiribAe

Discuss This Article