BOSTON – The maker of Samuel Adams beer and Truly Hard seltzer is moving into Canada’s cannabis beverages market.<\/p>\n<\/p>\n
The Boston Beer Co. says it will create a subsidiary to serve as a Canadian research and innovation hub for non-alcoholic?cannabis beverages.<\/p>\n<\/p>\n
The subsidiary will help the company develop and pilot pot drinks ahead of the possible federal legalization of cannabis in the U.S. and other countries.<\/p>\n<\/p>\n
Boston Beer says the subsidiary will be led by Paul Weaver, who previously worked for Canopy Growth Corp. and Molson Coors.<\/p>\n<\/p>\n
Beer companies have become increasingly interested in cannabis beverages in recent years with Molson and Hexo Corp. starting a joint venture called Truss Beverage Co. and Constellation Brands Inc. investing in Canopy.<\/p>\n<\/p>\n
In the third-quarter of 2020, Ontario consumers bought $3.6 million in cannabis beverages from retailers and $555,000 through the provincial pot distribution website.<\/p>\n<\/p>\n
This report by The Canadian Press was first published May 17, 2021<\/p>\n<\/p>\n
Companies in this story: (TSX:WEED, TSX:HEXO)<\/p>\n<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
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