The maker of Budweiser is trying to explore the option of getting into the business of marijuana drink. Budweiser manufacturer, Anheuser-Busch InBev is a leading brewer in the world. On Wednesday, the Canadian Pharmaceutical and Cannabis Company Tilray made an announcement. The company announced that they are making an investment of $50 million towards their research on non-alcoholic drinks. Those drinks contain the cannabis elements Tetrahydrocannabinol (THC) and Cannabidiol in the Canadian market.
Anheuser-Busch InBev is based in Belgium. They will take part in the study through Labatt Breweries of Canada. On the other hand, Tilray will carry out research through High Park Company. It mainly focuses on the sale of socially responsible cannabis brands and products in Canada. The President of Labatt Breweries, Kyle Norrington came up with a statement. He said that the consumers in Canada are exploring THC. They are even exploring other products that are Cannabidiol-infused. Hence, their innovative drive is matched up through their commitment to the maintenance of highest standards. The highest standards are not only with regard to their product quality but also towards responsible marketing. He intended to develop a much deeper level of understanding. The understanding will be with regard to all the non-alcoholic beverages containing THC and CBD.
This partnership between Anheuser-Busch InBev and Tilray is following a trend of a number of companies. Those companies, which are trying to make an entry into the marijuana market of Canada. Stores started selling marijuana legally over there since October. The manufacturers of both beer and alcoholic drinks have fixed themselves on an extremely popular recreational drug. In the month of September, Coca-Cola had talked about a similar approach from their end. They said that they were also keeping a close watch on the market for all the drinks, with a cannabis extract. In the United States, the Brewers have also carried out their experiments with the pot-infused beers. Earlier in the year, the founder of Blue Moon, Keith Villa had launched CERIA Brewing Co. The Brewing Co announced that they would create a particular kind of beer. That beer will be infused by cannabis and is also going to be non-alcoholic in nature. The beer would be for sale in Colorado. Following the announcement, stocks of Tilray had gone up almost 15% in the pre-market trading on Thursday.
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Michael has been in the journalism field for over four years. He has a good knowledge of the business sector. He has a bachelor’s degree in business and analytics and is well informed about the marketing industry. He prefers to focus on energy, finance, raw materials, capital goods, and the world economy.