Canadian cannabis giant Canopy Growth Corporation WEED CGC has teamed up with Southern Glazer's Wine & Spirits to distribute its CBD-infused beverages in the U.S.
Southern Glazer's agreed to distribute and sell Canopy Growth's CBD beverages, kicking off with Quatreau within seven states under the partnership.
The distributor of beverage alcohol will utilize its commercial infrastructure, including the Proof e-commerce platform at sgproof.com.
"There is strong consumer interest in the CBD-infused beverage category, and our distribution network is uniquely positioned to deliver the most efficient and effective route-to-market for CBD suppliers and retail customers," David Chaplin, chief growth officer at Southern Glazer's Wine & Spirits, said Wednesday.
John Wittig, Southern Glazer's Wine & Spirits' chief commercial officer, said they're "excited to be adding Quatreau as the first CBD-infused beverage in our portfolio."
He thinks CBD-infusing beverages are an innovation that "brings new energy to the marketplace and increases the level of consumer interest."
It seems Canopy Growth's industry peers recognized that cannabis beverages are the future of the pot sector, as a number of companies opted to strengthen their leadership teams with beverage experts over the last year. Others ventured into the beverage space by launching their new product lines. Tirlay Inc.'s TLRY products were first to hit shelves In Canada in 2020, alongside Canopy Growth's mixed distilled cannabis beverages.
Canopy Growth's shares were trading 4.1% higher at $26.61 a the time of writing.
Photo Source: CNW Group/Canopy Growth Corporation
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