Canopy Growth Corp., the cannabis company that attracted Corona beer producer Constellation Brands Inc. as an investor, is moving to bring cannabis beverages to the U.S. in 2021.
The drinks will contain THC, the psychoactive compound found in marijuana, in dosage amounts designed to keep people buzzed and social in a similar way to beer, cocktails or wine, the company said in a statement.
"Just as hard seltzer disrupted beer by providing a lighter, low-calorie alternative, we believe cannabis beverages will be an attractive option for what have traditionally been alcohol-driven occasions and mood states," said David Klein, Canopy's chief executive, in an e-mail.
Canopy, based in Smiths Falls, Ontario, said Acreage Holdings Inc. will start selling the drinks in California and Illinois next summer with its distribution network and move into other states in following months.
The drinks will appear first in dispensaries, with aims to get them in liquor stores or other retail locations once that becomes legally permissible.
Canopy said it will have access to Constellation's brand expertise and distribution network in the venture. Acreage, which has an agreement to merge with Canopy if federal legalization occurs in the U.S., has already moved to start manufacturing operations for the beverage.
The deal shows the increasing overlap between the beverage and cannabis industries. Drinks with CBD, a non-psychoactive cannabis ingredient, are already catching on in the U.S., with big companies like Molson Coors Beverage Co. starting to take action. The beverage industry is experiencing disruption as Americans, looking for new ways to unwind amid COVID-19 and lockdowns, increasingly turn to products such as canned cocktails and hard seltzers over standbys like beer.
Other THC drinks on the market have much larger doses of the compound, and Canopy's drinks aim to draw new users to cannabis with a better taste and a lower dose that will make the experience more akin to an alcoholic beverage.
