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Canopy Growth debuts ‘Cannabis 2.0’ portfolio | 2019-12-02

Canopy Growth debuts ‘Cannabis 2.0’ portfolio | 2019-12-02
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SMITH FALLS, ONT. — Canopy Growth is rolling out 13 cannabis-infused drinks and a line of cannabis-infused chocolate as part of its Cannabis 2.0. portfolio.

The launch coincides with the second wave of national legalization in Canada. While the country legalized recreational marijuana sales last year, regulatory green light for C.B.D.- and T.H.C.-infused drinks and edibles came last month. Companies may begin selling cannabis products in December.

The company partnered with Ottawa-based Hummingbird Chocolate to make three distinct chocolate brands. Bean & Bud Craft Cannabis Co. is a premium 70% dark chocolate made from single-origin Zorzal Cacao. Packages contain two chocolate medallions with 5 mg of T.H.C. each.

Tweed milk chocolate is made using Canopy’s propriety hybrid marijuana strain. Packages carry four chocolate squares, each containing 2.6. mg of T.H.C. and 1.8. mg of C.B.D. Tokyo smoke is a T.H.C.-infused dark chocolate containing minimal C.B.D. It is available in a five-piece bar containing 10 mg of T.H.C. total, or 2 mg for each segmented piece. 

Canopy distills whole flower cannabis into a clear liquid, called Distilled Cannabis, which is used as an active ingredient in several beverage varieties and brands.

Tweed R.T.D. comes in 355 mL cans. The drinks pre-mixed with Distilled Cannabis and are available in three flavors: Penelope and Tonic; Bakerstreet and Ginger Ale; and Houndstooth and Soda. Each contains 2 mg of T.H.C. and up to 1.5 mg of C.B.D. 

Canopy partnered with Houseplant founders Seth Rogan and Evan Goldberg to create Houseplant Grapefruit and Houseplant Lemon, both containing 2.5 mg of T.H.C. per 355 mL can.

The company also developed a line of naturally flavored, seltzer-like sparkling water beverages under the new brand Quatreau. The wellness-focused beverages come in Cucumber & Mint and Passion Fruit and Guava flavors, each containing 20 mg of C.B.D. Two additional flavors, ginger and lime and blueberry acai, contain 2 mg of C.B.D. and 2 mg of T.H.C. per can.

Deep Space, the most potent beverage in the Cannabis 2.0 portfolio, is a dark-colored carbonated beverage. It is available in 222 mL cans containing 10 mg of T.H.C. per serving, the maximum T.H.C. level permitted by Health Canada.

Canopy also will launch a new brand of beverage mixers called Tweed Distilled Cannabis. Packaged in 150 mL bottles of the company’s clear liquid cannabis, Tweed may be mixed with any non-alcoholic beverage or enjoyed on the rocks, Canopy said. Other products in the cannabis 2.0 lineup include vape cartridges and vape pens.

“With the coming of Cannabis 2.0, our goal is to provide customers with the best quality products, and I truly believe through the hard work and dedication of our team, we have delivered just that,” said Mark Zekulin, chief executive officer at Canopy Growth. “Since our first medical sale in 2014, we’ve been focused on innovation and quality, and now we’re expanding that with the launch of our game-changing recreational beverages, chocolates and vapes.”

The spate of new products could help restore profitably to Canopy, which posted wider-than-expected losses in 2019 and weighed down earnings at Constellation Brands, maker of Modelo and Corona. Constellation invested approximately $4 billion in Canopy last year, bringing its total stake to 38%. In October, Constellation sustained a loss of more than $400 million on the investment.

In an Oct. 3 conference call with analysts, David Klein, chief financial officer at Constellation Brands, said the company is focused on Canopy’s long-term potential.

“Canopy’s business is rapidly evolving, and their financial results will likely be volatile as they continue to focus on their path to profitability,” he said.

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