Canada’s largest licensed cannabis producer and its U.S. affiliate on Thursday revealed plans to launch THC-infused beverages in the U.S. market. Encouraged by recent beverage sales in Canada, Canopy Growth (NYSE:CGC) and Acreage Holdings (OTC:ACRGF) say they intend to bring similar options to U.S. consumers next summer.
Canopy Growth began shipping THC-infused beverages in Canada under the Tweed brand this spring. So far, the company has five of the top six performing products in the category there, and would like to achieve similar success in the U.S. with some help from what will eventually be its U.S. subsidiary, Acreage Holdings.
Acreage Holdings operates 27 marijuana dispensaries in the U.S. and has licenses it could use to open at least 40 more. In addition to selling Canopy Growth’s THC-infused beverages in stores operated by Acreage, the partners plan to leverage Canopy’s relationship with Constellation Brands (NYSE:STZ) to distribute them.