Labatt has partnered with B.C. cannabis producer Tilray to research non-alcoholic THC and CBD drinks.
“Labatt is committed to staying ahead of emerging consumer trends,” said Kyle Norrington, President, Labatt Breweries of Canada. “As consumers in Canada explore THC and CBD-infused products, our innovative drive is matched only by our commitment to the highest standards of product quality and responsible marketing.”
“We intend to develop a deeper understanding of non-alcohol beverages containing THC and CBD that will guide future decisions about potential commercial opportunities,” added Norrington. “We look forward to learning more about these beverages and this category in the months ahead.”
The partnership is limited to Canada and the companies say decisions regarding the commercialization of the beverages will be made in the future.
Tilray CEO Brendan Kennedy says “we are delighted to be joining forces with a world-leading beverage company, AB InBev (Labatt’s parent company), to research how to create enjoyable cannabis beverage products.”
“Tilray and AB InBev share a commitment to responsible product development and marketing, and we look forward to beginning our work on this important partnership as Tilray continues to pioneer the development of a professional, transparent, and well-regulated cannabis industry,” added Kennedy.
A release states that the research partnership combines “AB InBev’s deep experience in beverages with Tilray’s expertise in cannabis products.” Each company intends to invest up to $50 million USD, for a total of up to $100 million USD.
“With strong track records of responsible product development and marketing in their respective industries, AB InBev and Tilray believe that the legal market for THC and CBD beverages will only thrive if the industry embraces appropriate regulation of adult-use cannabis, including responsible production, marketing, sale and consumption,” according to a release.