Labatt ends Canadian operations of CBD drinks venture Fluent Beverage
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Hey there, time traveller!
This article was published 06/04/2022 (1629 days ago), so information in it may no longer be current.
TORONTO – Labatt Breweries of Canada will wind down its non-alcoholic beverages company that made drinks containing some of the active ingredients found in cannabis.
Fluent Beverages chief executive Jorn Soquet revealed the end of the company’s Canadian operations in an email to The Canadian Press, but did not share what prompted the decision.
The venture began in 2018 as a partnership between Labatt parent company AB InBev and cannabis producer Tilray Brands Inc., but earlier this year, Tilray said it “concluded” the relationship and negotiated an arrangement to manufacture CBD beverages on behalf of Fluent.
By then, the venture was known for its Everie brand, which includes teas made with cannabidiol, a non-psychoactive component in cannabis.
Labatt communications director Tamar Nersesian says in its three years of operation, the company gained insights into the cannabis sector and consumer preferences and expanded research and development capabilities.
She says the company will use learnings from Fluent to evaluate future opportunities in the cannabis sector, which it plans to monitor closely.
This report by The Canadian Press was first published April 6, 2022.
Companies in this story: (TSX:TLRY)
