Market Overview

Caliva Buys Plant-Based Beverage Maker Zola To Accelerate CBD Beverage Rollout

Share:
Caliva Buys Plant-Based Beverage Maker Zola To Accelerate CBD Beverage Rollout
Read more about our latest Cannabis News! CANNABIS HOME

Caliva, a vertically integrated cannabis company in California, announced its acquisition Friday of plant-based beverage maker Zola, which was acquired by the private equity firm KarpReilly in 2016.

Why It Matters

Caliva said it plans to use the acquisition to accelerate its expansion into the cannabis- and hemp-based CBD-infused beverage sectors.

Zola’s relationships with distributors, both regional and national, will enable a fast rollout of Caliva’s CBD beverages to targeted markets, Caliva said. 

Zola’s portfolio of plant-based beverages is available in over 7,000 retail locations across the U.S. The company brings more than16 years of experience in the "trendy" beverage space.

Chris Cuvelier, Zola’s CEO, will oversee and execute beverage initiatives at Caliva in order to quickly go from concept to the shelf.

Caliva CEO Dennis O'Malley said in a statement that consumers are seeking trusted CBD solutions in their beverages.

“We couldn't be more excited to team up with Zola and Chris to bring Caliva CBD beverages to a supermarket near you."

What’s Next

Caliva is exploring its entrance into the infused beverage market, including sparkling water, functional shots, functional powders, teas, cold brew coffee and sports drinks.

Zola's Cuvelier said hemp-based CBD is the "ultimate plant-based ingredient," and that beverages are a unique delivery system for the substance. 

“I am excited to leverage Caliva’s expertise, consumer insights and technology to create a portfolio of delicious and functional hemp-based CBD beverages.”

Related Links: 

3 Companies That Could Benefit From The Expanding Cannabis-Infused Beverage Market

Cannabis-Infused Beverage Stocks Rip Higher Amid Positive Farm Bill Development

Disclosure: Andrew Ward has done work for Caliva in the past. 

Read more about our latest Cannabis News! CANNABIS HOME

Posted-In: Caliva CBD KarpReilly marijuanaCannabis M&A News Markets Best of Benzinga

 

Related Articles

View Comments and Join the Discussion!

Here's How Christian Fromhertz Recommends Getting Ahead In Markets

Morgan Stanley Downgrades Michaels, Cites Lack Of Catalysts