On Wednesday, Belgium-based Anheuser-Busch InBev joined the ranks of other beverage giants that have inked deals with Canadian cannabis companies this year. Partnering with Tilray, Inc. AB InBev will match the company’s $50 million contribution, bringing the total investment in the partnership to $100 million. Those funds will support research into non-alcoholic cannabis-infused drinks. So far, however, the two companies have no immediate plans to commercialize any beverage the project might develop.
Labatt Breweries and High Park Subsidiaries Will Participate in the Research Partnership
AB InBev is a global leader in alcoholic beverages, owning more than 500 brands, including the iconic beer Budweiser. The Busch family sold the company to InBev in 2008 for $52 billion. Ten years later, the company is making its first North American foray into legal cannabis.
Both Tilray and AB InBev will participate in the $100 million research deal through a pair of subsidiaries. AB InBev will participate through Labatt Breweries of Canada, the country’s leading brewer. Tilray will participate through one of its adult-use subsidiaries, High Park Company. High Park develops, sells and distributes cannabis brands and products in Canada. Labatt Breweries of Canada President Kyle Norrington said the research project will “guide future