The Boston Beer Company, best known for its traditional flagship beer Samuel Adams Boston Lager, has
\nhad some tough years recently, as Americans continue to become more
\nhealth-conscious. But they\u2019re already getting in on where folks are heading,
\nand it includes hard seltzer and cannabis drinks.<\/p>\n
The folks at Nielsen said the hard seltzer category grew over 200% in the past year, and as much as 164.3% in July alone. During that wild bump in sales, Boston Beer\u2019s Truly hard seltzer has carved out an almost 30% share<\/a> of the marketplace. Given the fact that many cannabis beverage recipes simply involve adding cannabis isolate into sparkling water<\/a>, one can presume the more Boston Beer puts into their seltzer infrastructure, the better prepared they will be when they flip the switch to become a pot company, too. And that time might not be too far in the future.<\/p>\n Boston Beer Company CEO David Burwick joined CNBC\u2019s Power Lunch<\/a> last Friday to talk seltzer, and eventually weed. CNBC asked Burwick if the company planned to hedge its bets in cannabis after going big on their exploding hard seltzer business where they are scaling up production, or go big like Constellation Brands (the makers of Corona) did with their $4 billion investment<\/a> in the Canadian cannabis company Canopy Growth?<\/p>\n \u201cI don\u2019t think we have But then things got a \u201cHaving said that, of This is somewhat similar to their company\u2019s tactic with hard seltzer. \u201cHard seltzer\u201d products have been around since Coors\u2019s 1993 seltzer Zima, but Boston Beer\u2019s Truly only launched 4 years ago when the sector was starting to heat up \u2014 thanks to beverages like La Croix.<\/p>\n Regardless of when Boston Beer does decide to get in the cannabis industry, things are going pretty well already. Over the last year, on the back of the hard seltzer that will probably end up with a cannabis-infused instead of alcoholic option someday (most states do not allow cannabis-infused alcohol), Boston Beer Company\u2019s stock has grown over 80%.<\/p>\n Other prominent beer companies are already setting well-publicized flags in the cannabis world with varying degrees of success. While Heineken-backed Lagunitas is doing well in California\u2019s beverage market with their hop-flavored sparkling water HiFi Hops, on the flipside, Constellation Brands has had some rough earnings calls in recent quarters. <\/p>\n In July, Yahoo Finance summed up<\/a> Constellation\u2019s current concerns with their Canopy investment. Constellation had a $245 million loss in the second quarter of 2019, and the Canopy investment was specifically what kept them from having a profitable quarter. Constellation wasn\u2019t Lagunitas\u2019s history with cannabis was a bit more tragic, but ended up on a high note.<\/p>\n Back in 2005, Lagunitas was hosting one of its weekly shindigs at its brewery north of San Francisco. (As you travel north from San Francisco, the industries go from wine, to hops and then to weed; Lagunitas is located in the heart of hops country.) The party started at 4:20 as usual. Not long after, in what is referred to as the St. Patrick\u2019s Day Massacre<\/a>, undercover agents busted out their badges and cleared the pot-smoking backgammon players after eight weeks of surveillance. Lagunitas was forced to shut down for 20 days, but they used the time to install their new bottling line. <\/p>\n Lagunitas brews the TELL US,<\/strong> did you try hard seltzer this summer?<\/p>\n The post Why \u2018Hard Seltzer Summer\u2019 Bodes Well for Cannabis Beverages<\/a> appeared first on Cannabis Now<\/a>.<\/p>\n
The Boston Beer Company, best known for its traditional flagship beer Samuel Adams Boston Lager, has had some tough years recently, as Americans continue to become more health-conscious. But they\u2019re already getting in on where folks are heading, and it includes hard seltzer and cannabis drinks. The folks at NielsenContinue Reading<\/a><\/span><\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[11871,50,7848,4041,461,2177,170,11872,5412,8094],"tags":[],"_links":{"self":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/37980"}],"collection":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/comments?post=37980"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/37980\/revisions"}],"predecessor-version":[{"id":37981,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/37980\/revisions\/37981"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=37980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=37980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=37980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n$5 billion to invest in a cannabis company,\u201d Burwick replied with a laugh, \u201cBut
\nright now we\u2019re happy to grow double digits with the portfolio we have and we\u2019re
\nreally happy with our performance.\u201d<\/p>\n
\nbit more exciting. <\/p>\n
\ncourse we\u2019re looking at cannabis developments,\u201d Burwick said. \u201cWe\u2019re not going
\nto be the first one in, but we\u2019re going to study and learn. At the right time,
\nonce the category actually develops, it hasn\u2019t developed yet, then we\u2019ll play
\nat some point down the road.\u201d<\/p>\n
\nhappy with the overall results, though both Canopy and Constellation think they
\ncan hit $1 billion in annual revenue soon. <\/p>\n
\n\u201cespecially-bitter\u201d Undercover Investigation Shut-Down Ale to commemorate the
\nevent. In the end, Lagunitas would get the last laugh twice, now having their
\nwildly popular THC-infused beverages in branded coolers at many big-name dispensaries.<\/p>\n
\n
\nRead More: Why \u2018Hard Seltzer Summer\u2019 Bodes Well for Cannabis Beverages<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"