RE:RE:Drink SalesFinally, I think somebody is getting that there is more to this company than just Canopy!!!
Canopy is at minimum just one leg of a 3 legged trifecta and the guys with the gold make the rules. I have tried to swing some conversation over to what the intentions are for this company. Canada is just a small part of it. Canopy chose Acreage Holdings to be converted to Canopy USA division and we have beverage expertise in spades with STZ aka Constellation Brands who are the money and drink expertise. I believe that STZ chose Canopy for their US fortay into cannabinoid infused beverages.
Together they have money and beverage leadership qualities plus some irrefutable money-making know-how. I didnt check STZ but they are about a 40 unicorner and Canopy over 10. Acreage has taken their lumps in the latest re-evaluation of marijuana and hemp businesses but are still a leading Multi State Operator waiting for their contract to kick in to be Canopy USA.
Canada started the ball rolling for legal adult rec use which was new to consumers who benefit by being able to buy more than smokeable skus. STZ saw a change in consumer habits and proactively started moving towards a different line of skus that are getting a lot of interest.
They did more than that, they put up $5 billion for a big piece of Canopy who see drinks in their future. Canada has been a bit of a testing ground for cannabinoid infused beverages but make no mistake that the US is where they want to be.
When you remove the alcohol and sub in THC the calorie and sugar count drops like a hot potato which is a selling feature in itself and STZ is gearing up for disruption from their usual light alcohol beverage staples. If you can't beat 'em, buy 'em! Constellation are serious business people who are strategically planting like minded people in key positions to nurture their new lines of skus for International consumers and the US can't be ignored.
Still lots of stupid rules and regulations to overcome the mistakes made by law and policy guys who don't want alcohol and THC together in any way shape or form.
I personally thought cannabinoid skus would be a perfect fit for alcohol venues because they are already trained to not sell to the underaged.
Still lots to be done to get it right and more lobbying will be required by big players and it will take some time although Schumer seems to recognize and wants to deal with some of the major problems to level the playing field with Beverage Alcohol.
I expected decent financials out of Canopy this time around as Canada is getting sorted out enough to at least allow storefronts to sell all of the safe, high-grade, inspected cannabinoid products and we have even advanced so far as to allow edibles/drinkables, finally.
When the greenrush gets the starter pistol, the well financed and forward thinkers in the business will have the most chance at success and I don't think you can buy a more connected company than Canopy/Acreage/Constellation! These 3 companies and maybe more will come together and steamroll most of the competition.
glta and dyodd