Molson Coors announced today to end two joint-ventures, one for cannabiol infused beverages (CBD) and one for ready-to-drink coffee products.
Molson Coors and joint-venture partner Hexo Corp. said today they have agreed to unwind their Truss USA joint-venture and exit the CBD beverage business in the United States effective Dec. 31.
Since 2018, both companies produce non-alcohol cannabis-infused beverages for the Canadian market bundled in a Canadian company called Truss Beverages (inside.beer, 16.10.2018). In April 2020 both companies informed that they extended their partnership and formed a new company in the US to explore opportunities for non-alcohol hemp-derived CBD beverages in Colorado. Truss CBD USA was majority owned by Molson Coors and operated as a standalone entity with its own board of directors, management team, resources and go-to-market strategy. This joint-venture will now be terminated.