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Brewer AB InBev partners with Tilray to tap cannabis drink market
Source: Reuters
BUSINESS NEWS DECEMBER 19, 2018 / 4:38 PM / UPDATED 37 MINUTES AGO
Brewer AB InBev partners with Tilray to tap cannabis drink market
Susan Taylor, Nichola Saminather
4 MIN READ
TORONTO (Reuters) - Anheuser-Busch InBev (ABI.BR), the world’s largest brewer, and Canadian pot producer Tilray Inc (TLRY.O) are partnering in a $100-million joint venture to research cannabis-infused non-alcoholic drinks for the Canadian market, the companies said Wednesday.
The alliance, the latest in a string of deals by global alcohol and tobacco giants in Canada’s cannabis sector, comes amid booming demand for cannabis and a long-term decline in alcohol consumption and smoking.
AB InBev’s Labatt Breweries of Canada, which makes such brands as Labatt Blue and Budweiser, will work with Tilray’s Canadian cannabis subsidiary, High Park Co, which develops and sells cannabis products in Canada, the companies said in a statement.
Canada, which became the world’s first major country to fully legalize the recreational use of cannabis in October, is expected to approve cannabis-based products including beverages and edibles in October 2019.
-snip-
Brewer AB InBev partners with Tilray to tap cannabis drink market
Susan Taylor, Nichola Saminather
4 MIN READ
TORONTO (Reuters) - Anheuser-Busch InBev (ABI.BR), the world’s largest brewer, and Canadian pot producer Tilray Inc (TLRY.O) are partnering in a $100-million joint venture to research cannabis-infused non-alcoholic drinks for the Canadian market, the companies said Wednesday.
The alliance, the latest in a string of deals by global alcohol and tobacco giants in Canada’s cannabis sector, comes amid booming demand for cannabis and a long-term decline in alcohol consumption and smoking.
AB InBev’s Labatt Breweries of Canada, which makes such brands as Labatt Blue and Budweiser, will work with Tilray’s Canadian cannabis subsidiary, High Park Co, which develops and sells cannabis products in Canada, the companies said in a statement.
Canada, which became the world’s first major country to fully legalize the recreational use of cannabis in October, is expected to approve cannabis-based products including beverages and edibles in October 2019.
-snip-
Read more: https://www.reuters.com/article/us-ab-inbev-tilray-beverages/brewer-ab-inbev-partners-with-tilray-to-tap-cannabis-drink-market-idUSKCN1OI2M4