Molson beers is the next beer brand to invest in cannabis.
Molson-Coors Brewing Co. will enter into a partnership with Hydropothecary Corp. to develop non-alcoholic, cannabis-infused beverages for the Canadian market.
The partership between Molson Canada and the Quebec-based Hydropothecary will be a standalone company.
“We decided entering the cannabis space would provide us with a real growth opportunity,” Frederic Landtmeters, CEO of Molson Coors Canada, said in a phone interview. After talking with several potential partners, Molson Coors chose Hydropothecary because of its research and development capabilities, its loyal customer base and its strong brand, he said.
The partnership is a first for a major brewer with operations in Canada, where recreational marijuana will become legal on Oct. 17.
Cannabis-infused edibles and beverages will not initially fall under the provisions of the law, the two expect those products will become legal sometime in 2019.
This deal comes on the heels of Constellation Brands Inc., maker of Corona beer purchased a stake in Canadian brand Canopy Growth company.
Who will be the next beer or spirits maker who will hedge their bets and get in bed with cannabis?
