![]() He took the company public in 1995, ten years after selling the first crates of Sam Adams, and is currently worth $1.5 billion, according to Forbes. Koch has since been known as a founding father of the American craft brewery movement. Koch, who controls the company with a 20% ownership stake, created Samuel Adams beer in 1984 when he used his great-great grandfather's 1870s recipe to brew in his kitchen. beer maker based in Georgia.īoston Beer was founded by billionaire Jim Koch. It also has worked the other way around: Canadian cannabis company Tilray acquired SweetWater, a U.S. Pete Marino, president of the emerging growth division for Molson Coors, said Molson Coors has “redefined” itself as a company and laid out a strategy to expand into “new spaces beyond the beer aisle.” Lagunitas, which was founded in 1993 as a craft California beer maker but is now a subsidiary of Heineken International, partnered with AbsoluteXtracts a few years ago to launch Hi-Fi Sessions, a zero-calorie THC seltzer. Molson Coors Beverage Company formed two joint ventures with Canadian cannabis firm HEXO Corp to produce a CBD beverage in Colorado and a THC beverage in Ontario. Total THC beverage sales will grow to $615 million in five years, a report by consumer data firm Brightfield Group predicts.īoston Beer is not the only Big Alcohol company experimenting with dank drinks. In January 2020, drinks made up 0.9% of the total market but increased to 1.1% in January 2022, with the top 10 brands bringing in nearly $150 million in sales, according to Headset, the Seattle-based cannabis data firm. But new form factors like edibles and beverages are fast-growing segments. last year, according to analytics firm Flowhub. Flower made up 61% of the $25 billion in legal cannabis sales in the U.S. The cannabis industry sells more flower-good, old-fashioned pot-than any other product. We're going to continue to monitor each of those moments of progress to find what is in our best interest in terms of how we enter the U.S. ![]() “I think it’s becoming clear that America is not going to have the singular moment of legalization like you saw in Canada, it's going to be piecemeal progress towards decriminalizing, normalizing and ultimately legalizing cannabis. market, be sure that we will,” says Weaver. “Make no mistake: we're an American company, our business is built on success in the American market, so when we do have the opportunity to enter the U.S. Weaver did not give a timeline, but he says the company might not wait for federal legalization. Weaver says TeaPot will eventually be sold in the U.S., which is where the real “opportunity” lies. Paul Weaver, head of Boston Beer Company’s cannabis division.ĭespite not directly touching the plant, Boston Beer’s TeaPot marks a big moment: it is one of the first big alcohol companies to enter the industry with its own THC brand and product.
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