AB InBev and Tilray in joint venture to develop dagga drinks
SAB owner Anheuser-Busch InBev has joined the growing ranks of alcohol giants dipping their toes into the cannabis industry through a research partnership with Canadian pot firm Tilray. The two companies said on Wednesday they will jointly conduct research into non-alcoholic, cannabis-infused beverages. Each company will invest up to $50m in the partnership, which is limited to Canada. Decisions about commercialisation will be made later, as marijuana edibles and beverages won’t be legal in Canada until 2019. Tilray shares jumped 16% in post-market trading on Wednesday, while AB InBev was down as much as 1.8% early on Thursday in Brussels, in a generally lower market.
AB InBev is the third alcohol company to partner or invest in a Canadian marijuana producer after the country became the first major economy to legalise marijuana in October. Molson Coors Brewing Company signed a joint venture with Hexo Corporation, while Constellation Brands is now the biggest shareholder in Can...
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