- BevCanna Enterprises Inc. is a diversified health & wellness beverage and natural products company, which offers in-house brands and provides white-label production and distribution solutions to its industry-leading partners
- BevCanna has recently announced tie-ups with Keef Brands as well as with The Tinley Beverage Company to produce and distribute their products within the Canadian continent
Functional drinks and drinks based on plant derivatives — particularly those containing cannabis- or hemp-derived ingredients like cannabidiol (“CBD”) or tetrahydrocannabinol (“THC”) — have rapidly established themselves as one of the fastest-growing verticals within the North American beverage industry, with a recent study forecasting the global cannabis drinks sector to triple in value to $5.8 billion by 2024. BevCanna Enterprises (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC)
, a diversified health & wellness beverage and natural products company developing and manufacturing a range of alkaline, plant-based and cannabinoid beverages and supplements for both in-house brands and white-label clients has sought to capitalize on the growing demand, most recently through its various collaborations with US cannabis-infused beverage manufacturers (https://cnw.fm/Hza0K
Surveys have shown that in U.S. states where cannabis is legal for recreational use, drinks make up 15 percent of purchased cannabis value, with one in four consumers remarking that they would be willing to try cannabis-infused drinks. The strong growth trends witnessed in the U.S look particularly promising for the nascent Canadian cannabis-derived drinks market, with the sector poised for significant growth in the coming months and years.
A key growth driver set to underpin future growth within the Canadian cannabis beverage market lays within the product selection currently available within the sector. BevCanna have sought to widen selection through the introduction of several leading US brands within the Canadian domestic market, capitalizing on their existing manufacturing facilities and nationwide distribution coverage. In early August, BevCanna announced that they had successfully completed the first commercial production run of the leading U.S. beverage brand, Keef Brands’ cannabis-infused beverages, for delivery to select provincial distribution boards across Canada.
“This inaugural run of Keef represents a significant milestone for BevCanna,” said Melise Panetta, president of BevCanna (https://cnw.fm/6rshx
). “We’re launching in multiple Canadian markets and are excited to be including this already well-known and loved cannabis brand among our first offerings. We expect that Keef will take a leadership position within the Canadian cannabis-infused beverage space”
The company also announced on August 19 that it had signed a definitive agreement with The Tinley Beverage Company Inc. (CSE: TNY) (OTCQX: TNYBF)
to co-manufacture its award-winning cannabis-infused beverages for the Canadian market. The agreement will see BevCanna produce and distribute Tinley’s full product portfolio which includes their line of ready-to-drink, adult beverage-inspired sparkling Tinley Classics, Tinley’s Tonics as well as their Moscow Mule-inspired Tinley’s Tonics High Horse, among various others.
With U.S. beverage makers increasingly seeking to venture into Canada’s relatively under-penetrated cannabis beverage market, BevCanna’s white-label partnership model for Canadian production and distribution allows the company’s potential non-licensed partners to mark their initial forays into the Canadian cannabis market in a smooth and compliant manner. In addition, BevCanna’s broad distribution network, which features over 3,000 points of retail distribution spread across Canada, allows for companies to dramatically expand their retail footprint while subject to a single, seamless partnership.
For more information, visit the company’s website at www.BevCanna.com
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