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Budweiser???s Parent Company Enters $100 Million Deal with Cannabis Producer

Posted on December 21, 2018 at 11:55 AM


By Adam Drury

Budweiser's Parent Company Enters $100 million Deal with Cannabis Producer ShutterstockOn Wednesday, Belgium-based Anheuser-Busch InBev joined the ranks of other beverage giants that have inked deals with Canadian cannabis companies this year. Partnering with Tilray, Inc. AB InBev will match the company’s $50 million contribution, bringing the total investment in the partnership to $100 million. Those funds will support research into non-alcoholic cannabis-infused drinks. So far, however, the two companies have no immediate plans to commercialize any beverage the project might develop.Labatt Breweries and High Park Subsidiaries Will Participate in the Research PartnershipAB InBev is a global leader in alcoholic beverages, owning more than 500 brands, including the iconic beer Budweiser. The Busch family sold the company to InBev in 2008 for $52 billion. Ten years later, the company is making its first North American foray into legal cannabis.Both Tilray and AB InBev will participate in the $100 million research deal through a pair of subsidiaries. AB InBev will participate through Labatt Breweries of Canada, the country’s leading brewer. Tilray will participate through one of its adult-use subsidiaries, High Park Company. High Park develops, sells and distributes cannabis brands and products in Canada. Labatt Breweries of Canada President Kyle Norrington said the research project will “guide future decisions about potential commercial opportunities.”2018 was a major year for North America’s cannabis industry. Canada, of course, implemented its world-historic Cannabis Act in October, legalizing cannabis for adults nationwide. And in the U.S., medical cannabis program expansions, the implementation of California’s retail industry and a Farm Bill legalizing hemp have all expanded access to............https://hightimes.com/news/budweisers-parent-company-enters-100-million-deal-with-cannabis-producer/

 

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