Tilray (NASDAQ: TLRY) and Anheuser-Busch InBev (NYSE: BUD) are taking their partnership to the next level.
The cannabis maker and brewing king will work together to produce and market nonalcoholic beverages containing cannabidiol (CBD). The CBD-infused drinks will go on sale in Canada once regulations allow, and potentially as early as December.
CBD is a nonpsychoactive component of the cannabis plant. Unlike tetrahydrocannabinol, the psychoactive component of marijuana, CBD doesn’t get people high. But thanks to its perceived health benefits, CBD is becoming increasingly popular. Analysts at market research company Brightfield Group forecast the CBD market to grow to nearly $24 billion by 2023, up from approximately $620 million in 2018.
Tilray and Anheuser-Busch Inbev are teaming up to sell cannabis-infused drinks. Image source: Getty Images.
Anheuser-Busch InBev and Tilray first announced a research partnership in December 2018. The companies’ plan to commercialize CBD-infused drinks represents a significant progression for the joint venture, which is now named Fluent Beverage Company.
“To be Fluent means to have mastery of a subject or skill,” Fluent CEO Jorn Socquet said in a press release. “We have assembled a team with best-in-class expertise from the beverage and cannabis industries, and together we are reaching higher for our consumers, with a shared commitment to setting the standard for product quality and responsible marketing.”
Fluent also intends to further its research on THC. The company would eventually like to sell THC-infused beverages, in addition to those that contain CBD.
Here’s The Marijuana Stock You’ve Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.
And make no mistake – it is coming.
Cannabis legalization is sweeping over North America – 10 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.
Because a game-changing deal just went down between the Ontario government and this powerhouse company…and you need to hear this story today if you have even considered investing in pot stocks.
Simply click here to get the full story now.
Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool recommends Anheuser-Busch InBev NV. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Recent Comments