24 May 2021 By Arabella Mileham
Pic credit: CNW Group/Canopy Growth Corporation
The new follows the roll out the Canadian cannabis’s first CBD-infused sparkling water brand Quatreau on the US market with Southern Glazer’s in March. Quatreau contains 20mg of US-grown, hemp-based CBD in each can and comes in four fruit flavours.
The US’s largest drinks wholesaler will initially distribute Martha Stewart CBD – a line of CBD wellness supplements including gummies, softgels, and oil drops – across seven states in the US, with further releases set in the coming months. The line was developed as a partnership between Canopy Growth and Marquee Brands and launched in 2020.
The launch coincides with the appointment of well-known business woman Martha Stewart as an official strategic advisor of the Canadian cannabis company to help develop new products. A statement said the appointment would enable the company to leverage Stewart’s “vast knowledge of product development and branding expertise, to provide the company with dedicated counsel ranging from product innovation to format development and strategic partnerships.”
“Canopy Growth is committed to providing consumers with trusted CBD products with quality ingredients and Martha Stewart has been a champion of our commitment since the inception of our partnership,” David Klein, chief executive officer of Canopy Growth said. “With her expansive business acumen and years of experience with the Canopy team, together we’ll unleash the power of CBD to improve lives and create an unparalleled portfolio of brands.”
Canopy Growth is backed by Constellation Brands, which took a 9.9% stake in the Canadian cannabis company 2017 before extending it to a 38.6% stake, with the potential to raise it again, to a majority 55.8%.
The global cannabis drinks market has seen rapid growth over the last few years, and is expected to be worth around US$2.8 billion by 2025, according to estimates by Grand View Research.
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