Molson Coors Canada and HEXO Corp. have finalized their deal to create non-alcohol, cannabis-infused beverages for the Canadian market following legalization.
The joint venture, Truss, will be led by former Molson Coors executive Brett Vye in the role of Chief Executive Officer.
“With the backing of two partners with deep Canadian roots, proven success, and market-leading experience in the respective beverage and cannabis industries in Canada, Truss will hit the ground running,” said Vye in a release. “When consumable cannabis is legalized in Canada, Truss will be ready to make its mark as a responsible leader in providing high-quality beverages for the Canadian consumer. Why “Truss“? We are joining together the extensive experience and excellent practices of each partner to build a powerful foundation for the future.”
According to an Aug. 1 release that first revealed the joint venture, President and CEO of Molson Coors Canada Frederic Landtmeters said the country is “breaking new ground in the cannabis sector and, as one of the country’s leading beverage companies, Molson Coors Canada has a unique opportunity to participate in this exciting and rapidly expanding consumer segment.”
“While we remain a beer business at our core, we are excited to create a separate new venture with a trusted partner that will be a market leader in offering Canadian consumers new experiences with quality, reliable and consistent non-alcoholic, cannabis-infused beverages,” said Landtmeters. “We look forward to partnering with HEXO, a recognized leader in the medical cannabis space in Canada that will bring robust production capacity, a track record of innovation, and, most importantly, shared values when it comes to doing business the right way and earning the trust of consumers.”