Canopy Growth last week agreed to a distribution deal with Southern Glazer’s Wine & Spirits, one of the largest alcohol distributors in the U.S., for its line of CBD beverages. The announcement comes on the heels of the Canadian company’s launch of Quatreau – its first line of CBD-infused drinks.
David Chaplin, Chief Growth Officer for Southern Glazer’s, said the agreement reinforces the company’s “consumer-focused approach to identifying emerging growth areas” where it can add value for its customers.
“There is strong consumer interest in the CBD-infused beverage category and our distribution network is uniquely positioned to deliver the most efficient and effective route-to-market for CBD suppliers and retail customers. We’re proud to align with Canopy Growth, a company well-positioned to lead this product category with a portfolio of premium, highly desirable consumer brands.” – Chaplin in a press release
Notably, alcohol distributor Constellation Brands Inc., owns a 38.6% stake in Canopy and, according to a Drinks Business report, the firm recently tabbed Southern Glazer’s to handle about 70% of its wines and spirits.
Julious Grant, Chief Commercial Officer for Canopy Growth, described the deal as “groundbreaking.”
“The leadership team at Southern Glazer’s shares our values, priorities, and future-forward view of the category,” he said in a statement. “Together, we are committed to creating an immediate strategic route to market for Canopy’s premium CBD beverages.”
Initially, Southern Glazer’s will distribute the Quatreau line – a sparkling water beverage – in seven states.
Get daily cannabis business news updates. Subscribe
Thanks for reading our latest news article. Stay up to date on the latest hemp news, sourced and approved by HempRevs. If you have any questions or comments, please feel free to leave us a message in the comments!
Sign up for our weekly newsletter to stay up to date on the latest Industry news and follow our site for our next news article!
Source Disclaimer: This article was was sourced from Ganjapreneur.com (the Original Publisher). In order to maintain the functionality, trust, and safety of HempRevs.com, the content sourced from the Original Publisher may have been altered. Read the original article here:
Canopy Growth Signs Deal with U.S. Alcohol Distributor for CBD Beverages