Molson Coors (NYSE: TAP) is offering consumers a whole new way to taste the Rockies. The beverage company announced its first line of CBD-infused drinks.

Verywell, a product of Truss CBD USA, is a joint venture of which Molson Coors owns the majority. It is operated in conjunction with a Canadian cannabis company Hexo. The line will not include alcohol.

The hemp-derived adaptogenic beverage comes in three sparkling flavors: grapefruit tarragon, strawberry hibiscus and blueberry lavender. The drinks contain zero calories or sugar.

The suggested retail price is $3.99 for a 12-ounce can and $14.99 for a four-pack, which is comparable to similar CBD-infused beverages.

Verywell will be available exclusively in Colorado. Molson Coors and Hexo announced in April that Truss CBD USA was exploring opportunities for a nonalcoholic, hemp-derived beverage line within the state.

While Verywell may be restricted to Colorado at present, Pete Marino, president of the emerging growth division for Molson Coors has his sights set on expansion. Marino told Bloomberg News that he aims to create a mega-brand within three years. “We’ve got all our antennae up to learn what we can in Colorado,” he said.

This isn’t the first collaboration for Molson and Hexo, who originally teamed up to produce CBD-infused spring water in Canada via Truss Beverage Co. Canada started allowing sales of CBD-infused beverages in December 2019.

Molson’s move is part of a larger trend of beverage companies beginning to venture into the cannabis-infused space. Constellation Brands (NYSE: STZ) backs a company called Canopy Growth, which announced that it will be introducing infused drinks in the legal recreational markets of California and Illinois later this year through a partnership with Acreage Holdings.

Georgia’s own craft darling, Sweetwater, was purchased by the Canadian cannabis company Aphria late last year. Aphria then merged with Tilray, a partner of AB InBev. SweetWater introduced Hydroponics, a hard seltzer infused with cannabis derived terpenes, giving it a very dry, slightly weedy taste.

With such big players clamoring to get in on the game, we’re sure to see more expansion in the near future.

The release of Verywell is also indicative of Molson Coors focus on other drinks outside of the beer space. Marino said in a statement that the company is trying to “grow in new spaces beyond the beer aisle.”

The company officially changed the latter half of its name from “Brewing Company” to “Beverage Company” in January of 2020 as a sign of its new commitment. Since then, Molson Coors has worked to diversify its portfolio with a greater variety of offerings, both hard and soft.

In addition to launching its eponymous Coors Seltzer, the beverage company also released Vizzy, the first seltzer made with the antioxidant Vitamin C, and announced a high profile partnership with the Coca-Cola Company to distribute Topo Chico Hard Seltzer to US markets.

Last week the company also announced its first premium spirits-based ready-to-drink (RTD) canned cocktail, a sparkling Paloma called Superbird.

On the softer side of the portfolio are new additions La Colombe coffee drinks and ZOA, a line of better-for-you energy drinks. With all these new non-beer options hitting the market, the future for Molson Coors looks Verywell indeed.

Erin Grafton
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