One of the biggest stories in the cannabis sector in 2020 was related to the relationship between HEXO Corporation (HEXO.TO) (HEXO) and Molson Coors Beverage Company (TAP.CN) (TAP). The companies formed a joint venture partnership (majority owned by Molson Coors) and launched Truss Beverages, a line of cannabidiol (CBD) and tetrahydrocannabinol (THC) infused beverages.
Currently, Truss Beverages is selling THC infused beverages in Canada and CBD infused beverages in the US. Under a Biden administration and democratic controlled congress and senate, we expect the legislation to legalize or decriminalize cannabis to pass and this would prove to be a substantial catalyst for growth for companies like Truss Beverages.
Earlier this week, Truss CBD USA announced a major milestone and launched Veryvell™, a line of non-alcoholic, sparkling CBD beverages that are exclusively available in Colorado. The product line will initially come in three flavors and be available to Colorado-based consumers both online and at select retailers.
Truss CBD USA is a completely different business than Truss Beverages, which is Molson Coors and HEXO’s joint venture in Canada that focuses on the sale of non-alcoholic, cannabis-infused beverages. We are favorable on the diversity of the joint venture and the growth prospects that are associated with both product categories.
Truss’ entry into Colorado’s CBD market shows the continued execution by the management teams and are favorable on this. We believe that HEXO has played a key role with Molson Coors’ expansion into new beverage categories and will monitor how the product line gains traction in Colorado.
Each beverage in the product line offers a unique blend of CBD and adaptogens and we are favorable on how Truss has been able to differentiate itself from other cannabis beverage companies. We are favorable on the expertise that both Molson Coors and HEXO bring to the joint venture and will monitor how the vertical supports growth for both operators.
If you are interested in learning more about Molson and HEXO’s Veryvell™ brand, please send an email to firstname.lastname@example.org with the subject “Truss CBD USA” to be added to our distribution list.