Cannabiniers, a beverage, technology & brand management company located in San Diego, California, announced today to “have executed LOI's [letter of intend] to acquire 3 breweries in the greater San Diego area, which represents 200,000 bbls [235,000 hl] of capacity and expect to add 2-3 breweries under LOI before the end of Q1 supporting an additional 200,000 – 300,000 bbls [235,000 - 352,000 hl] annually; allowing us to reach our national target of 500,000 bbls [587,000 hl] annually ahead of plan."
In 2017, Cannabiniers launched the world's first line of cannabis infused coffee, tea and cocoa delivered through a patented, 100 percent compostable flower-based single-brew pod, BrewBudz. In June last year, the company announced the expansion of its alternative beverage portfolio. Two Roots Brewing Co, the world's first line of CannaCrafted non-alcoholic THC and CBD infused craft beer, and Just Society, a line of THC and CBD infused cold brewed iced coffees and teas, both joined the company's cannabis infused beverage collection.
The company also said today that it recently executed its first strategic brewing agreement with Two Roots supporting up to 50,000 annual beer barrels [59,000 hl], forecasting Two Roots Brewing sales to reach 500,000 bbls [587,000 hl] annually by mid to late 2020.
"One of the primary drivers to support expanding our brewery operations was due to insights gathered on the sell-through rates in the Nevada market," said Kevin Love, Vice President of Market Activations for Cannabiniers. "Our initial forecasted run rate to support the entire Nevada market was 2,000 bbls [2,350 hl] a year. What we found was that we were hitting those annualized volumes in 10 stores alone. With this heightened sell-through rate, several stores are reporting that Two Roots represents 10% of their total SKUs sold.
Another push in output is expected with the expansion of its line of non-alcoholic cannabinoid infused craft called Cannabier to California. Two Roots will be offered in both THC-infused and full spectrum CBD-infused options and will be available for purchase in select dispensaries throughout California, including San Diego, Los Angeles, and San Francisco.
The drinks are said to be micro-infused, with the effects coming on in 5-10 minutes then dissipating within two hours or less. Such rapid onset is meant to replicate the quick effects of alcohol. Due to regulations, the drink is not allowed to contain both, alcohol and THC. The product is available in a 6-pack bag with 10 fl. oz. cans and comes in a variety of styles to align with consumer preferences, Lager, Blonde, Wheat, Stout and New West IPA.
"We've seen a tremendously positive response to Two Roots Brewing since its initial debut in Nevada," said Timothy Walters, President and Chief Operating Officer of Cannabiniers. "As more states legalize recreational cannabis, users will continue to seek new, more sociable ways to consume, and companies will increasingly look to adapt to this new wave of consumption. We are thrilled to bring Two Roots to residents throughout California, offering a more enjoyable and socially integrated way to consume cannabis."