The partnership, which is exclusive to Canada, sees both companies investing up to USD$50m (nearly £40m) for a potential $100m investment (around £78.5m). AB InBev is taking part in the project through its subsidiary Labatt Breweries, while Tilray is working through its High Park Company subsidiary.
‘Labatt is committed to staying ahead of emerging consumer trends,’ commented Kyle Norrington, president of Labatt Breweries of Canada.
‘As consumers in Canada explore THC- and CBD-infused products, our innovative drive is matched only by our commitment to the highest standards of product quality and responsible marketing. We intend to develop a deeper understanding of non-alcohol beverages containing THC and CBD that will guide future decisions about potential commercial opportunities.’
Through the venture, AB InBev and Tilray will look into the development of products using tetrahydrocannabinol (THC), which induces a high, and cannabidiol (CBD), which does not. The companies have not yet decided whether the beverages developed in the partnership will be commercialised.
Canada legalised the recreational use of cannabis in October 2018 – read editor Chris Losh’s take on how the burgeoning cannabis market could affect the UK on-trade here.