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Molson Coors, HEXO Joint Venture Truss CBD Launches Veryvell Beverage Brand In Colorado

January 13, 2021 1:04 pm
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Molson Coors, HEXO Joint Venture Truss CBD Launches Veryvell Beverage Brand In Colorado

Truss CBD USA, a joint venture between Molson Coors Beverages Co. (NYSE:TAP) and HEXO Corp. (NYSE:HEXO), is launching a new line of CBD beverage in Colorado.

The product, dubbed Veryvell, is a sparkling CBD water and non-alcoholic CBD beverage with zero sugar and calories. Colorado consumers will be able choose from three different flavors: Mind & Body (Strawberry Hibiscus), Focus (Grapefruit Tarragon), and Unwind (Blueberry Lavender).

Each variety contains 20 milligrams of hemp-derived, non-psychoactive CBD. It comes with a price of $3.99 for a 12oz can, or $14.99 for a four-pack. The beverage is available both online, and in specific Coloraod retail stores.

The launch of Veryvell represents Truss CBD USA’s first entry into the U.S. CBD market.

“Last year, we redefined ourselves as Molson Coors Beverage Company and in doing so, laid out a clear vision of leveraging the competitive strengths of our storied foundation in beer to grow in new spaces beyond the beer aisle,” Molson Coors president Pete Marino said in a statement. “Truss’ entry into the CBD market in Colorado and the launch of Veryvell, a brand we believe will resonate well with Colorado consumers, is another example of Molson Coors’ expansion into new beverage categories.”

Molson Coors has also partnered with The Coca Cola Co. (NYSE:KO) to manufacture and distribute Topo Chico Hard Seltzer in the U.S. It also backs ZenWTR, as well as ZOA, an energy drink recently launched by actor and entrepreneur Dwayne Johnson.

The move underscores a larger trend in the cannabis industry. 

It All Started Last Year

Many cannabis companies decided to join the CBD beverage space as industry experts increasingly touted beverages as a growth opportunity for the cannabis industry.

For example, beverages from Canopy Growth Corp. (NASDAQ:CGC) and Tirlay Inc. (NASDAQ: TLRY) were among the first introduced in 2020. Canopy Growth launched its a line of mixed distilled cannabis beverages, while Tilray’s subsidiary, High Park Holdings, presented CBD-infused beverages under the brand Everie.

Valens GroWorks Corp. (TSXV:VLNS) (OTC:VLNCF)  also joined the game, by launching both THC and CBD infused beverage products, while the comedian and podcaster Joe Rogan collaborated with Kill Cliff on a new CBD beverage, Flaming Joe.

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