Edibles Archives - Green Market Report

StaffMay 11, 2022
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The Luxury Meets Cannabis Conference was recently held in New York City and featured some of the top luxury brands in the cannabis space. Since New York doesn’t have a legal cannabis program yet, the brands are mostly CBD and many are centered around beauty. Still, not every company at LMCC was a beauty brands, there were accessories and edibles. Great Barrington MA dispensary Rebelle set up shop with a VIP lounge to introduce its new Halo mist fast onset oral spray. Here are some of our favorite items from LMCC:

 

Aurora Sparkling Hemp Beverage

These handcrafted sparkling beverages from Aurora feature fabulous flavors like Cayenne Citron, Rosemary Grapefruit and Lavender Orange. They are made with sustainably grown hemp and hops from the Pacific Northwest. Bright, balanced, and refreshing, Aurora is made in small batches with a proprietary blend of whole plant extracts to deliver a layered experience that restores and rejuvenates the mind and body. Each of the 200ml bottles of hemp beverage contains 25mg of hemp extract and zero THC. The elixirs are made with a blend of broad spectrum hemp oil and raw extract hemp oil. Talk about feeling refreshed!

Rose Delights

Rose Los Angeles was in the house with its tasty rosin-infused edibles. Rose Delights are Turkish Delight-style infused edibles using rosin extracted from the whole flower. The house-made full-spectrum flower rosin preserves the beneficial natural properties of the plant,  honoring the plant in its original form while providing the best quality experience. If you like Turkish delights, you’ll love these. We tasted the White Rock Ranch Meyer Lemon, which is made with these namesake lemons, wild Heimang and freshly steeped thyme infused with Hudson Hemp and contained 10mg of CBD. 

Oeuvre

Who doesn’t love a good face oil? Oeuvre has a CBD + Bio-active + high-vibrational gemstones replenishing facial oil that is superb. It is lightweight and silky. The company has four products in all, but we only tried the facial oil. The foundation of the brand’s products is “the breakthrough Œ Complex: a Bio-Actives + Gemstone + Full Flower Hemp Extract infused formulation which is synergistically balanced to recalibrate skin’s natural functions, support one’s own natural biorhythm and maintain the natural elasticity of the epidermis.

The entire Oeuvre Artistry Collection is high performing & skin nourishing – infused with luxuriously clean, ethically and environmentally responsible ingredients including:

Apricot Kernel Oil, Grape Seed Oil, Sweet Olive Leaf & Flower Extract, Holy Basil Extract, Squalane and Hyaluronic Acid, plus Full Flower Hemp Extract, infused with Amethyst, Tourmaline, Quartz, Jade, Diamond & Gold to help transform everyday routines into revitalizing experiences that nourish both body and soul.” Yes, please.

Pure Dharma

Pure Dharma is a skin care line that is made with fast-acting nano CBD. The products target radiance, relief, relaxation and recharging. I tried the relief healing balm on my tired feet after two days at cannabis conferences and I felt the benefit very quickly. The Relief CBD Healing Balm is infused with pure plant extracts that soothe and relieve the body. It may reduce muscle aches, body pains, spasms, swelling and inflammation. The Relief CBD Bath Fizz has been infused with pure plant extracts that soothe and relieve the body and it is huge and smells lovely.  It contains a powerful blend of essential oils to reduce joint pain, muscle tension and inflammation and i can’t wait to try it out.

 

Potent Kitchen 

Potent Kitchen let me taste a hazelnut chocolate CBD bar. It didn’t last long. So yummy and guilt-free with all that CBD goodness, I gobbled it down in a couple of days. Potent’s first seeds were sown in 2014. The company has found a permanent home in a hidden magical valley near Hotchkiss, Colorado. It was acquired by PSC Group, a Global Hempower house in 2018. “We’ve grown from a farm to a vertically integrated business: growing, extracting, formulating, and producing natural finished products for many 3rd party brands, as well as for our Pet brand Tempo and Tails and our Chocolate Co-Brand MUZE CBD.” 

 

Hunny Bunny


I loved the Hunny Bunny Healing Hair Oil. It goes from pre-styling to finishing to total hair rejuvenation. Enhanced with Organic Hemp CBD that’s grown in the USA and the sweet, floral essence of honeysuckle. Buh-bye, bad hair days! If you have dry frizzy hair like me, this product is really fantastic. Just a couple of drops of oil and instead of making your hair feel greasy, it feels hydrated. In addition to CBD, it has Cinnamon bark, Lavender, Rose and Honeysuckle for all kinds of spiritual benefits.


StaffMay 3, 2022
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The fast-acting edible company 1906 has secured a seven-figure investment from Connecticut Innovations (CI), Connecticut’s strategic venture capital arm and the leading source of financing and ongoing support for Connecticut’s innovative, growing companies. According to the company statement, it is a first-of-its-kind investment by a state venture fund in a cannabis business.

“Along with our confidence in 1906’s future prospects, CI’s investment also recognizes the increasingly important role the cannabis industry will continue to play in the economic, health, and social development of the state,” said Lauren Carmody, vice president of marketing at Connecticut Innovations. “With its track record of innovation and success, 1906 is a great addition to CI’s expanding portfolio. This investment will help accelerate the company’s ambitious plans for growth and establish 1906 as the first of many cannabis industry leaders based here in Connecticut.”

1906 edibles are different from other due to its fast onset time. These edibles typically have a psychoactive onset of 20 minutes or less. The company has six different thoughtful formulations of super-powerful plant medicines like Bliss for happiness and Go for energy. The company prides itself on its moderately dosed cannabis.

CI’s decision to invest in 1906 was prompted by the company’s leadership position as the number one cannabis pill in the U.S., successful revenue generation as well as its commitment to and leadership in the areas of employment, health and wellness, and social justice. The investment aligns with CI’s mission to promote innovation and diversity in Connecticut and supports efforts to prioritize public health, public safety, social justice, and equity. 1906 has a commitment to patient and consumer advocacy, as well as its strong stance on pressing social justice issues, has made 1906 a leading voice in the industry.

“CI’s investment in 1906 is a major milestone for the cannabis industry — institutional investors don’t need to wait on the sidelines for changes to federal laws before they participate in the cannabis market (or funding the growth of this industry),” said Peter Barsoom, CEO of 1906. “The investment from CI will help us grow our business in the state and squarely positions 1906 at the center of the cannabis movement in the Northeast at exactly the right time. We are excited to bring 1906 and our products to Connecticut.”

Connecticut Innovations joins other investors, including Arcview and Merida, in this current round of funding.


StaffMarch 29, 2022
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In 2020, a group of cannabis beverage experts and former Pabst Brewing Company employees were granted the rights to create a line of cannabis-infused drinks under the Pabst Blue Ribbon name, making it one of the few national brands to enter the cannabis space. Pabst Labs produces Pabst Blue Ribbon’s 10mg High Seltzer, Not Your Father’s Cannabis Infused Root Beer, as well as ST IDES Cannabis product lines, including its 100mg infused 4oz shots. 

Pabst Labs has unveiled its brand new manufacturing facility and distribution center in Desert Hot Springs. The new plant was designed and built from the ground up by Pabst Labs, giving the company full control over its manufacturing and packaging processes, and more than tripling its production capabilities. Pabst Labs is responsible for the production, marketing, and sales of the new drink.

“Leveraging over twenty years of beverage manufacturing experience, the goal while building our factory was to establish a standard for quality and efficiency that would set the bar in all Cannabis infused beverages facilities for years to come. It’s a game changer,” says Barlick. “The new factory in Desert Hot Springs will operate under customary world-class manufacturing practices such as HACCP, SQF, GMPs, Lean Manufacturing and Visual Work Instructions.”

The company said that the Desert Hot Springs headquarters will ensure Pabst Labs has total control of its product, allowing the company to raise the bar on quality, and expand its output and innovation considerably. Pabst Labs’ will also enable other brands to have access to its facility through co-packing relationships, helping raise beverage quality and opportunity across the industry. 

Pabst Labs has been developing the new facility over the last two years, overseen by Pabst Labs Director of Production Chuck Barlick. Pabst Labs’ longstanding background in beverage development, combined with Barlick’s over 20 years of beverage production experience have been bolstered by recruits from some of the world’s most recognized beverage brands creating a team with an unrivaled knowledge base, and an unrivaled facility, in the cannabis beverage industry. 

 


Debra BorchardtFebruary 23, 2022
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HYTN Innovations Inc. (CSE: HYTN) has had a big week for announcements. The company began trading yesterday on the Canadian Securities Exchange under the symbol “HYTN” following its reverse takeover transaction with HYTN Beverage Corp. and amalgamation between its wholly-owned subsidiary MMO Merger Holdings Inc. and 1306562 B.C. Ltd.

“This is an exciting day for all of us at HYTN,” says CEO Elliot McKerr. “Thanks to the support of our entire team we are well-positioned to execute on our strategy. We are looking forward to sharing our consistent, natural, and delicious products with even more consumers and building lasting value for all our stakeholders.”

HYTN is a Canadian company that formulates, manufactures, markets, and sells premium cannabis goods. The company describes its mission to be the leading provider of consistent, natural, and delicious cannabis products. “HYTN focuses its efforts on identifying category opportunities and takes an innovative approach to delivering elevated cannabis experiences to a discerning customer base.”

In addition to that, the company announced that its wholly-owned subsidiary, HYTN Cannabis Inc. was awarded a license amendment by Health Canada allowing for the sale of a cannabis extract, edible cannabis, and cannabis topical products to provincially and territorially authorized retailers.

The company said that the national sales of HYTN’s cannabis-infused sparkling beverages had already begun through a partnership agreement with Emerald Health Therapeutics Inc.  (CSE: EMH) that was announced in November 2021. Then Emerald announced a change in business strategy that would result in the winding down of all cannabis-related activities, including its partnership with HYTN. HYTN said that its receipt of the License Amendment ensures that it can continue to sell its all-natural, sugar and calorie-free sparkling cannabis beverages across Canada.

“Achieving this milestone under a strict timeline was a monumental feat lead by our exceptional operations team. This amendment coupled with the strong demand we have already seen will allow HYTN to execute on its sales objectives,” said Jason Broome, HYTN’s Chief Operations Officer.

HYTN CEO, Elliot McKerr, commented, “Emerald’s decision to pivot out of cannabis accelerated our plan and timeline to achieve the License Amendment. We are now well-positioned to recapture the 13.5% margin contribution previously associated with our agreement with Emerald.” The company noted that plans are now in place to ensure a smooth transition for all existing customers.


Debra BorchardtFebruary 15, 2022
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Infused beverage company and celebrity favorite Cann announced a $27 million Series A funding round coming from fresh institutional capital as well as existing investors like  Imaginary Ventures who added to its original investment. Cann was launched in 2019 and raised $5 million in a seed round in 2020.

Cann added its newest celebrity investors Nina Dobrev, Julianne Hough, Sara Foster, Paul Scheer, and Adam Devine. They join current investors, Gwyneth Paltrow, Baron Davis, Rebel Wilson, Kate Hudson, Rosario Dawson, Darren Criss, Casey Niestat, Tove Lo, and Bre-Z.

In addition to this milestone funding round, Cann is also announcing its first international expansion with the brand’s launch in Canada. Cann’s Canadian expansion and Series A funding comes on the heels of an explosive year of growth that included 300% sales increase and expansion into four new U.S. states: Illinois, Massachusetts and Arizona.

Cann is known for its microdosed THC beverages that aim to change consumers’ relationship with alcohol. For now consumers in Ontario can purchase Cann’s THC social tonics, with British Columbia, Alberta and additional provinces launching in the coming months. To produce its award-winning beverages, Cann is partnering with Truss Beverage Co., a joint venture between MolsonCoors Canada (NYSE: TAP) and HEXO Corp. (OTC: HEXO) and a leader in the development of non-alcoholic, cannabis-beverages for the Canadian market. To bring its products to retailers across Canada, Cann is working with Kindred Partners, a premier specialty cannabis brokerage serving the Canadian adult recreational-use market.

“Over three years ago, we were told that consumers didn’t want cannabis in beverages and that they were, at best, a novelty, but this fundraise indicates that microdosed beverages are here to stay,” said Jake Bullock, Co-Founder of Cann. “Cann drinkers are desperate for an alternative to alcohol that actually delivers a social buzz and puts flavor first full stop.”

 

“Despite it being as difficult to sell Cann to Retailers as it would be to sell meat in a vegan grocery store, at the end of the day the consumer votes on the company’s success with their dollar,” said Luke Anderson, Co-Founder of Cann. “And as they keep showing up, the channel is finally starting to understand that they have more crowded stores when Cann owns the fridge.”

Each of Cann’s core products include 2mg of THC and 4mg of CBD and are designed to deliver a light, uplifting social buzz. Unlike most cannabis edibles and beverages, which typically offer higher doses of THC, Cann provides an approachable microdose that gives consumers full control over their experience. The products are vegan, gluten-free, with only 35 calories and each Cann has five all-natural ingredients with a strength that is similar to a beer or glass of wine. There are no artificial sweeteners or flavors, sugar substitutes, or cannabis taste.

“Cann is a company that prioritizes diversity and inclusion, even when it doesn’t immediately appear to impact their business performance,” said Rosario Dawson, actress and Cann board member. “And in doing so, earns unique distribution opportunities and achieves outsized growth. There are very few other cannabis companies that continue to nearly triple in size annually.”

 


Julie AitchesonFebruary 2, 2022
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Pricing schemes for CBD products are as variable as the products themselves and impacted by such factors as quality of ingredients, potency, and production. In a pricing analysis that compared over 3000 CBD products across 100 brands, a recent analysis conducted by Leafreport found that the price difference between the cheapest and most expensive topicals increased to 11142% as of the end of November 2021. In April of 2021, that difference was 4718%. Leafreport created a price index to compare brands:  “Bargain grade” brands (priced ranging from $.01-$.076/mg CBD), “Market grade” brands (priced ranging from $.077-$$.167/mg CBD), and “Pricey grade” brands (priced above $.168/mg CBD). 

“Bargain grade” CBD brands analyzed in the report included Extract Labs, Vida Optima and Erth Hemp among others while “Market brands” featured names like Receptra Naturals, cbdmd (OTC: YCBD) and Elixinol (OTC: ELLXF). Upmarket labels like Foria, PureKana and Kushly made the list of “Pricey brands” by Leafreport’s metrics. The vast pricing spread between “bargain” and “pricey” CBD products is not new to the market. Still, the ever-widening gap is noteworthy, as are a number of Leafreport’s other findings related to the discrepancy.  

While CBD topicals and creams showed themselves to range most widely in pricing among product categories, there was also a significant 3561% gap between the most least expensive products across all products. The difference between the cheapest and most expensive products in the edibles category was also noteworthy at 5100%. Gummies and pet tinctures posted the least difference in pricing between “bargain” and “pricey” brands at 833% and 858% respectively.

Leafreport spoke to a variety of CBD industry experts in order to gain a greater perspective on the factors that influence pricing. Responses from Laura Fuentes of Green Roads CBD and Winston Peki of Herbonaut highlight the current lack of regulation in the CBD industry, which allows some companies to skimp on materials and the production process without penalty. This can seriously affect a product’s purity and potency, but due to ongoing issues of inaccurate labeling and false product claims, cost-conscious customers often don’t realize that they’ve purchased an inferior product until it’s too late. 

Peki specifies that there are three production factors that influence price: hemp cultivation processes and the hemp plant parts used; extraction type, and vertical integration of the brand, which enables manufacturers to optimize costs by having more control over each step of the process. He takes issue with comparing CBD product prices based on how much CBD you get for a certain price, citing the value of other hemp compounds that can enhance and individualize a product’s effects. When it comes to topicals and edibles, the difference between an isolate and full-spectrum hemp makes a big difference in cost, as does the use of “boilerplate” formulations that are cheaper because production is standardized rather than curated. Jim Higdon of Cornbread Hemp affirms that the diversity and quality of ingredients are a major factor in pricing such as when the product has a certified organic designation.

So what does Leafreport’s brand data reveal that might be of use to CBD consumers ranging from the budgetista to the aficionado with ample discretionary funds? Leafreport breaks this down by product category. For example, Industrial Hemp Farms showed up as the least expensive brand on the market across all CBD products (unchanged from the prior year’s report). The brand offers the cheapest full and broad spectrum tinctures, though, in a previous review of their products, Leafreport found that several products showed higher than the acceptable variance for potency levels. Her Highness came in as the most expensive brand of full and broad spectrum tinctures, but Leafreport notes a dearth of information available from the company about ingredient sourcing and production. Industrial Hemp Farms sells the least expensive topicals and creams as well, with Kushly ranking as the priciest brand in this category and overall. 

The discrepancy in price between high and low-end brands was found to have increased within seven out of ten product categories since 2020 according to Leafreport’s data. This indelibly points to the ongoing reality of an unregulated market—a pressing issue with a resolution that is far from imminent.


StaffJanuary 27, 2022
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TSUMo Snacks announced today that it raised a $4M Seed round led by Casa Verde. The new cannabis brand aims to elevate the way people consume THC through its innovative salty & savory snack offerings.

“This capital will be used to supercharge TSUMo’s product roadmap as the brand continues to fill a need for differentiated infused products in a space dominated by sweet-centric offerings,” says Yoni Meyer, a Partner at Casa Verde.

While most cannabis-infused edibles tend to be sweet in nature, savory options are growing in popularity. Chocolate tends to be the predominant flavor option, while gummies are often a popular form factor. That was mostly because these edibles had binding ingredients that made it easier to incorporate cannabis into the recipe. Now, technology has made it easier to create savory options for consumers who prefer something without so much sugar.

TSUMo brings consumers a unique and elevated snacking experience by infusing cannabis into familiar flavors and form factors. Low dosed at 10mg of THC per bag, the debut line of snacks features five delicious flavors:

 

  • Classic Cheese Puffs: the go-to snack to satisfy any cheese craving

  • Fiery Hot Cheese Crunchers: to spice up your snacking

  • Zesty Ranch Mini Tortilla Rounds: the chip that boldly goes where no ranch has gone before

  • Hint of Lime Mini Tortilla Rounds: chips that pack a punch of lime zest and citrus

  • Salsa Verde Mini Tortilla Rounds: the perfect amount of spice and south-of-the-border zing

 

Since the brand’s official launch in September 2021, TSUMo’s success demanded the need to expand its retail footprint and accessibility. Initially only available in select dispensaries in Los Angeles, TSUMo is now available for purchase at dispensaries across the state of California.

“This funding provides TSUMo with the opportunity to make considerable headway in bringing a wide range of unique snacks to market,” comments CEO and Co-Founder Caroline Yeh. “With this new capital, we will develop new flavor profiles and form factors, further elevating and expanding the way people consume cannabis.”


StaffJanuary 25, 2022
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House of Saka, Inc., producer of the first and only alcohol-free, award-winning cannabis-infused wines from the iconic Napa Valley appellation, announced today an exclusive partnership with Carbidex LLC Michigan, a family-owned holding entity with companies rooted in the cannabis and facilities management industries, to provide full-service manufacturing, bottling, and distribution. The Michigan market has become incredibly important in the cannabis industry. The Anderson Economic Group found that one in five Michigan residents used cannabis in 2020 – an increase of 75% since 2010. “We estimated that Michigan’s cannabis industry totaled $3.1 billion in 2020. In 2020, retailers reported sales of approximately $1.0 billion. The remainder of cannabis consumed across the state came from non-retail sources, including home cultivation, medical caregivers, and illicit adult-use sales.”

The first of House of Saka’s luxury-infused beverages, Saka Spark Mimosa, will launch at Carbidex’s retail locations: The Botanical Co.. this spring. Available in 187ml, single-serve champagne bottles, House of Saka Spark & Mimosa is the first and only cannabis-infused beverage to blend premium, alcohol-removed California sparkling Chardonnay with Mimosa
strain-specific live resin and natural essence of orange blossom and nectarine. The result is all the flavor and celebration of a traditional Mimosa without the negative effects and unwanted
calories of alcohol.

“Partnering with companies that exemplify our mission to ‘bring good people together and enhance lives by creating extraordinary cannabis experiences’ is crucial to us,” stated Carbidex
Founder and CEO Russell Chambers. “The team at House of Saka embodies our core values and mission. We are honored to bring the extraordinary House of Saka products to the Michigan market.”

House of Saka, Inc. and Carbidex came together based on a strong set of shared values and beliefs. The core mission of the Carbidex family of companies remains committed to supporting the backbone of the industry; caregivers and small businesses. Our customers & patients remain at the core of what we do and to ensure they continue to have access to the products they rely on, we only source the highest quality products from companies that align with our mission. The team and products with the House of Saka perfectly align with all of our values and core beliefs.

“Finding a partner who shares our quality standards and core values was our most important goal,” explains Tracey Mason, Co-founder & CEO. “The team and mission of Carbidex was a
perfect match. Their incredible knowledge of beverages, manufacturing, and the Michigan market made their partnership the best possible fit for our combined goals.”


Debra BorchardtJanuary 18, 2022
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National supplements retailer GNC is going to start selling Charlotte’s Web Holdings (OTC: CWBHF), Inc. full spectrum hemp extract products. Initial shipments of six varieties of Charlotte’s Web Gummies will be available for purchase at GNC retail locations across 24 states, with the intent to expand into additional states.

“To best reach and serve consumers we rely, in part, on strong partnerships with proven mass retail partners,” said Jacques Tortoroli, Chief Executive Officer of Charlotte’s Web. “GNC’s established retail footprint adds depth to our reach domestically and broadens consumer access to our high-quality hemp CBD products. We expect GNC will become one of our largest retail customers this year, and we are excited about the growth provided by bringing our two leading brands together.”

This is welcome news for the CBD company that has seen its fortunes come and go. As one of the original leaders in the medical marijuana space, Charlotte’s Web had the largest market share of any CBD company. However, extreme competition cut into its lead along with a lack of direction from the FDA on how to label and market CBD products. The company announced a corporate reorganization last week and has struggled to maintain its market share and reduce costs.

GNC is also no stranger to challenges. The company faced bankruptcy and was acquired by Harman Pharmaceutical group. It closed about 40% of its stores and sales fell by almost 60%. It named a new CEO and CFO as the company emerges from Chapter 11.

Charlotte’s Web Gummies are made with full-spectrum hemp extract from its patented hemp cultivars. Vegan and non-GMO, Charlotte’s Web extracts contain the naturally occurring phytocannabinoid cannabidiol (“CBD”), plus terpenes, flavonoids, and other beneficial hemp compounds. Charlotte’s Web Gummies are developed with superior formulations using high-quality hemp extract enhanced with functional herbs and botanical supplements that work in synergy to further support targeted wellness needs.

Charlotte’s Web gummy options available at GNC include:

  • Charlotte’s Web DAILY WELLNESS: Full-spectrum hemp extract with 15mg of CBD per serving to support everyday use. (Raspberry Lime flavor)
  • Charlotte’s Web SLEEP: Full-spectrum hemp extract with 10 mg of CBD and 3mg of melatonin to support restful sleep*. (Raspberry flavor)
  • Charlotte’s Web CALM: Full-spectrum hemp extract with 10 mg of CBD, and 75mg of lemon balm to support everyday stresses and feel relaxed, but not sleepy*. (Lemon Lime flavor)
  • Charlotte’s Web RECOVERY: Full-spectrum hemp extract with 10 mg of CBD, 25mg of ginger, and 50mg curcuminoids for exercise and active lifestyles to support your body’s healthy inflammatory response and target joint health*. (Ginger flavor)
  • Charlotte’s Web IMMUNITY: Full-spectrum hemp extract with 10mg CBD, 90mg Vitamin C from organic acerola extract and ascorbic acid, 20 mcg vegan Vitamin D3, and 70mg organic Astragalus root to support immune function*. (Lemon Berry flavor)
  • Charlotte’s Web THC-FREE: Broad-spectrum extract with beneficial hemp phytocompounds including 15mg CBD per serving to support everyday wellness, whether on the job or at home. (Mango Peach flavor)

StaffDecember 8, 2021
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Tilray, Inc. (NASDAQ: TLRY) is buying Breckenridge Distillery, a leading distilled spirits platform located in Breckenridge, Colorado that is widely known for its award-winning bourbon whiskey collection and innovative craft spirits portfolio. Tilray didn’t disclose the price it paid for the company but it did say that the acquisition will be immediately accretive to EBITDA.

The Breckenridge Distillery joins Tilray’s SweetWater Brewing Company as the cornerstones of the company’s beverage alcohol segment and further diversifies its net revenue mix. Breckenridge Distillery is expected to immediately margin accretive by generating adjusted EBITDA margins of approximately 25%.

“Tilray’s strength lies in our ability to identify and significantly expand leading CPG lifestyle brands that resonate powerfully with consumers,” said CEO Irwin D. Simon. “Breckenridge Distillery is an iconic addition to our platform in this respect based on its portfolio of award-winning spirits, passionate consumer engagement, and a strong sales and distribution network. We see tremendous potential for Breckenridge and our existing SweetWater brand to complement each other, expanding their respective reach and driving further profitable growth in our beverage alcohol segment.”
Tilray said in a statement that buying Breckenridge Distillery will help the company create non-alcoholic distilled spirits, including bourbon whisky, that is infused with cannabis. With more than 85% of its revenue generated in Colorado, Tilray said that Breckenridge Distillery has enormous potential to expand its customer base and grow throughout the U.S. as a true national brand. To that end, Tilray said it plans to leverage SweetWater’s existing nationwide infrastructure to accelerate Breckenridge Distillery’s and create new, greatly-expanded consumer awareness and product adoption.

Mr. Simon continued, “More generally, the Breckenridge Distillery transaction is consistent with Tilray’s strategy of leveraging our growing portfolio of U.S. CPG brands to launch THC-based product adjacencies upon federal legalization in the U.S. These significant, diversified revenue streams are key to delivering on our ultimate goal of industry leadership with $4 billion in revenue by the end of the fiscal year 2024.”

Bryan Nolt, Breckenridge Distillery’s Founder and Chief Executive Officer, added, “We are excited to join Tilray and drive revenue growth as part of its global and leading CPG and cannabis-lifestyle platform. The award-winning spirits that have driven our success will unquestionably benefit from access to Tilray’s global distribution network and opportunities to expand into cannabis and edible-related products in the U.S.”


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