CHICAGO — Molson Coors Beverage Co. is entering the CBD beverage market in the United States.
Molson Coors and Hexo Corp. have formed a joint venture—Truss CBD USA—to explore opportunities for nonalcohol, hemp-derived CBD beverages. Truss CBD USA will be majority owned by Chicago-based Molson Coors and operate as a stand-alone entity. Hexo Corp., Ottawa, Ontario, is a licensed producer of cannabis products in Canada.
Retailers and consumers won’t see any products outside of Colorado, however. All production and distribution for Truss CBD USA will be kept within Colorado state lines because it is one of the few states with an established regulatory framework for hemp-derived CBD in food and beverages, according to the companies. No hemp-derived CBD products will be produced at Molson Coors facilities.
“CBD beverages are a growing segment within the nonalcohol beverage category and this joint venture provides us an opportunity to build capabilities in Colorado,” said Pete Marino, Molson Coors president of emerging growth. “We plan to approach any opportunities in full alignment with our commitment to commercial responsibility, transparency and compliance.”
Molson Coors and Hexo have another joint venture—Toronto-based Truss Beverages—to produce nonalcohol cannabis-infused beverages for the Canadian market. Truss is expected to roll out its first beverages in Canada later this year.
“Molson Coors and Hexo have already built a great partnership in Canada that we believe will produce some of the best adult nonalcohol beverage brands in the Canadian market,” said Sebastien St-Louis, CEO and co-founder of Hexo. “I am thrilled with the opportunity to bring those learnings to Colorado, under the leadership of Molson Coors, powered by Hexo.”
Molson Coors is a global brewer with brands that include Coors Light, Coors Banquet, Miller Lite, Molson Canadian, Carling and Blue Moon Belgian White.