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Coors Enters CBD Market With New Distribution Deals
- As CBD continues to hit fever pitch with consumers, Molson Coors Brewing Company is entering the business
- Company recently inked distribution deals with Colorado’s Best Drinks and DRAM Apothecary.
Emily Cappiello ContributorÂ
As CBD continues to hit fever pitch with consumers, Molson Coors Brewing Company is entering the business. The company recently inked distribution deals with Colorado’s Best Drinks and DRAM Apothecary.
“We are very excited to add Colorado’s Best Drinks and DRAM to our portfolio, giving us the ability to offer amazing CBD hemp products to retailers and consumers in the Denver Metro area. We see a big demand for high quality and unique products in the non-alcoholic space and we think Colorado’s Best Drinks and DRAM are the perfect solution to fill that consumer demand,†says Jennifer DeGraff, director of marketing, Coors Distributing Company.
Moose Koons, co-owner of Colorado’s Best Drinks, explains that the process started about eight months ago when one of the company’s beverages ended up in the hands of someone at the company.
“We started the process from there and Coors really saw an opportunity,†he says. “Working with Coors is going to open up our distribution into restaurants, grocery, bars, convenience stores — they have a fantastic network. But it’s also about the validation and legitimacy of our organization. We’ve been selling CBD drinks for more than a year now.â€
Koons explains that Colorado’s Best Drinks has worked closely with the Colorado Department of Health in order to figure out healthy CBD boundaries in consumables, which he feels is one of the reasons that Coors was drawn to the company.
Additionally, Koons adds that what makes Colorado’s Best Drinks different from other CBD-infused beverages out there is the fact that the company is hands-on in the manufacturing process.
“We understand how ingredients go together and how they bond. Sometimes, CBD can be tricky and may not want to blend, but we found solutions to make sure we are putting out a quality product,†he says.
As for teaming up with Coors as far as distribution, Koons says the company is poised for growth already, modeling its processes after the booming craft beer industry in Colorado.
“We watched the craft beer industry and we’ve been working on scalability for two or three years. We should be able to increase distribution without having to change the facility and we put a lot of processes and procedures in place already,†he says.
Currently, distribution will be limited to Colorado while the Food and Drug Administration irons out regulations regarding hemp-based food and beverages. However, Koons notes that continuing the education of the consumer will help to eliminate stigma, questions and concerns surrounding the growing food and beverage category.
“One of our goals is to continue to educate the consumer that hemp is fantastic. It’s sustainable and there are even receptors in your body that allow you to be able to process it. We are going to continue to try to really bring hemp into the spotlight,†he says.
Colorado’s Best Drinks offers a full line of sparkling beverages infused with broad spectrum hemp extract. Each flavor – Black Cherry, Cola, Ginger Ale, Lemonade and Root Beer – is crafted with just five ingredients: sparkling water, organic agave nectar, natural flavors, non-GMO citric acid, and broad spectrum hemp extract. Each 12oz BPA-free can contains 100 calories and are all vegan, gluten-free, non-GMO, and free of sodium and preservatives.
Source: https://www.forbes.com/sites/emilycappiello/2019/09/24/coors-enters-cbd-market-with-new-distribution-deals/#19e7012f4bc5
Tags: Cannabis, CBD, CSE, Hemp, Marijuana, stocks, tsx, tsx-v, weed