Molson Coors explores CBD beverage opportunities in Colorado with Hexo joint venture
Molson Coors and HEXO already partner on their Truss Beverages joint venture in Canada, for producing non-alcoholic cannabis-infused beverages for the Canadian market.
Molson Coors – the beer giant behind brands such as Coors Light, Miller Lite and Blue Moon – says it has chosen Colorado thanks to the state’s established regulatory framework for CBD.
‘CBD beverages are a growing segment in non-alcohol’
The new Colorado joint venture – called “Truss CBD USA” - will be majority owned by Molson Coors and will operate as a standalone entity with its own board of directors, management team, resources and go-to-market strategy.
Pete Marino, president of emerging growth, Molson Coors, said: “CBD beverages are a growing segment within the non-alcohol beverage category and this JV provides us an opportunity to build capabilities in Colorado.
“We chose Colorado because of its established regulatory framework for CBD and we plan to approach any opportunities in full alignment with our commitment to commercial responsibility, transparency and compliance.”
Molson Coors says hemp-derived CBD beverages form part of its strategy to grow beyond the beer aisle with wine and spirits and non-alcohol drinks.
Molson Coors and HEXO’s Canadian joint venture, Truss, is preparing for launch: including completion of product formulations, branding and construction of a cannabis beverage production facility in Belleville, Ontario. Truss is expected to launch its first beverages in Canada later this year.
HEXO is a consumer packaged goods cannabis company which serves the global cannabis market. In Canada, it produces the HEXO Cannabis and Up Cannabis brands, as well as HEXO medical cannabis for the medical market.
Sebastien St-Louis, CEO and co-founder of HEXO, said: “Molson Coors and HEXO have already built a great partnership in Canada that we believe will produce some of the best adult non-alcohol beverage brands in the Canadian market. I am thrilled with the opportunity to bring those learnings to Colorado."
Production and distribution for Truss CBD USA will be kept within Colorado state lines since it is one of a few states that has an established regulatory framework for hemp-derived CBD in food and beverages. No hemp-derived CBD products will be produced at Molson Coors facilities.
