Budweiser Investing In Pot Drinks?
Its no secret that marijuana has been higher on people’s wishlist than alcohol has in most recent years, so it wouldn’t be entirely shocking if those in the beverage industry dipped some of their toes into the money pool for the newest invention being pot drinks. Now, it looks like Budweiser will be one of the first mainstream alcoholic beverages to give it a shot.
Budweiser has decided to partner up with Tilray, a medical cannabis group, to start doing research and studies into the new creation. The two reached a $100 million deal for studies with the Canadian market. Canada has already approved for the legalization of recreational marijuana in October of last year.
The two companies both invested $50 million into the project which would involve the the intake of cannabis-infused drinks, including both CBD and THC compounds. CBD would ensure the calming effects of the drug, while THC would give off the psychoactive effects.
Given its $9.2 billion of revenue as of 2017, consumer spending on marijuana in North America is said to increase to $47.3 billion by 2027, so its no shock if anyone’s trying to get their piece of the pie now.
It won’t be too long before other beverages follow suit. Coca-Cola and Pepsi, although staying low on the radar this year, is said to be keeping an eye out for the new invention as well.
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