- Entourage holds special legal rights to offer, current market and distribute Boston Beer-branded and licensed non-alcoholic hashish beverages manufactured by Althea’s subsidiary Peak Processing
- Corporation also enters into offer arrangement with Peak to deliver cannabinoid-abundant input biomass to Peak to formulate and manufacture the hashish beverage products and solutions in Canada
- World wide cannabis beverage industry is believed to reach US$2.8 billion by 2025 soon after developing at a compound yearly growth rate (CAGR) of 17.8 for every cent from 2019 to 2025
TORONTO, Aug. 31, 2021 (World NEWSWIRE) — Entourage Well being Corp. (previously WeedMD Inc.) (TSX-V:ENTG) (OTCQX:WDDMF) (FSE:4WE) (“Entourage” or the “Firm”), a Canadian producer and distributor of award-winning cannabis products and solutions and brands, declared now that its subsidiary and licence holder WeedMD RX Inc. has signed agreements with BBCCC, Inc., a subsidiary of the The Boston Beer Firm, Inc. (NYSE: SAM) (‘BBC’), and Ontario-dependent Peak Processing Options (‘Peak’), a subsidiary of Althea Team Holdings Ltd (ASX:AGH), to launch a new portfolio of non-alcoholic cannabis-infused drinks in Canada, with creation commencing in Q4, 2021.
Less than the terms of the 5-calendar year growth, source, production, gross sales and marketing and advertising agreements, BBC and Peak will acquire the beverages with Entourage’s cannabinoid-rich enter biomass processed at Peak’s Windsor, Ontario facility. Entourage will be the special distributor of the hashish-infused drinks in Canada leveraging Entourage’s expansive neighborhood profits and promoting community.
“The hashish marketplace is continuously evolving and with a escalating base of buyers searching for consumption choices, we’re enthusiastic to lover with Boston Beer and Peak to elevate our offerings with Canadian-designed, cannabis-infused beverages created by just one of North America’s most legendary craft beer models,” explained George Scorsis, Interim CEO and Government Chair of Entourage. “We are very pleased to increase into one more customer vertical with award-profitable partners of well-recognised items that will aim on all segments including the emerging self-care current market. Our collective industry knowledge coupled with in depth cannabis research and sophisticated branding techniques will lay the foundation for new merchandise collaborations and even more current market enlargement possibilities at scale. Our potent business existence, profits drive and track record for consistently providing award-winning manufacturers in Canada would make this an ideal collaboration.”
“Considering that the early times of health-related obtain, Entourage has cultivated obtainable, top quality-generated cannabis that is deemed a benchmark in a regulated industry – and they truly exemplify what we search for in our suppliers,” reported Paul Weaver, Head of Hashish at BBCCC Inc. “This partnership is further strengthened by Peak Processing Methods, with the talent and devices in put to make certain every single consume is ready with the maximum treatment and excellence. We are psyched to operate with Entourage and Peak to provide best-in-class drinks to Canadian consumers.”
Peak Founder and President, Gregg Battersby additional: “The team at Peak are delighted to partner with two market leaders in Entourage Overall health and The Boston Beer Corporation to produce what claims to be an exciting variety of cannabis-infused drinks. This collaboration is even further validation of Peak’s major and one of a kind capabilities in the Cannabis 2. house, and the most current in a expanding record of strategic and modern partnerships.”
Hashish Beverage Industry
The Hashish 2. industry represents a strategic current market opportunity provided that goods in just the group yield a considerable price tag top quality in the Canadian grownup-use market place when compared to dried flower and cannabis oils (Reference: Nurturing New Advancement Canada Will get Completely ready for Hashish 2., Deloitte). Hashish drinks are also desirable to new-to-cannabis buyers as an alternative to conventional liquor beverages, a lot of of whom are also using the solutions for self-care or wellness reasons.
According to Deloitte’s just lately issued Cannabis Report, “cannabis non-combustibles and wellness-and-wellness products and solutions now stand for the industry’s biggest very long-term advancement possible.” (Reference: Deloitte 2021 Cannabis Shopper Report). As more cannabis-infused items become out there by way of mainstream buyer products, bigger enchantment is predicted from a larger base of individuals with different cannabis-ingestion choices.
The beverage current market has presently found substantial transformation more than recent decades by innovation and e-commerce growth. A recent report by Million Insights estimates the hashish beverage market place will improve at a CAGR of 17.8 for every cent from 2019 to 2025 to attain US$2.8 billion. (1) The report discovered this development is staying pushed by a selection of things, including the increase of the health and fitness and wellness motion and the preference for hashish beverages between millennials.
Transaction Summary & Strategic Positive aspects
Underneath the conditions of the provide and manufacturing agreement, Entourage will offer, on an distinctive foundation, all hashish enter materials essential by Peak to manufacture BBC-branded, non-alcoholic cannabis-infused drinks.
BBC and Entourage also entered into a sales and promoting settlement below which Entourage will license sure freshly-made manufacturers from BBC and leverage its nationwide sales power and gross sales licences to current market, distribute and promote the products in Canada with the support of BBC’s deep model-building knowledge.
- Branded Craft Beverage Experience: With its comprehensive working experience, best-tier position and world wide good results in launching craft beers, ciders, difficult iced teas and tricky seltzers, Boston Beer not too long ago created a Canadian subsidiary, BBCCC, Inc. to focus on formulating non-alcoholic cannabis drinks in Canada. BBCCC Inc. is coming into this key current market even though continuing to gauge the regulatory natural environment in the U.S. for potential expansion options. With innovation at its main, Entourage appears to increase its consumer offerings and diversify into new marketplaces with new impressive, third-get together-branded solutions.
- Strong Ontario-primarily based Operations: Peak has one particular of the initial massive-scale independent processing amenities of its form, specialising in the manufacturing and distribution of cannabis-infused drinks, concentrates, topicals and other Cannabis 2. products. Peak and Entourage have a extended historical past of performing jointly in producing hydrocarbon extract of freshly harvested and frozen hashish biomass to deliver dwell resin formulations of renowned Entourage cultivar, Pedro’s Sweet Sativa. This partnership represents a purely natural development and evolution of Peak and Entourage’s relationship and is a testament to the achievement of this affiliation.
- Strengthened Distribution Capabilities: Entourage will leverage its expansive and effective cultivation and distribution network to take care of generation, current market and promote the new cannabis beverage products. The Organization has a sturdy and proven infrastructure with distribution get to to roughly 95% of the Canadian cannabis retail market place. Additionally, Entourage is repeatedly and productively meeting rising market demand with its at any time-expanding health-related cannabis portfolio and speedily rising retail footprint. The Organization is strategically prepared to exam the entry of cannabis-infused drinks in the self-treatment and professional medical marketplaces.
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About Entourage Wellbeing Corp.
Entourage Wellness Corp. (formerly WeedMD Inc.) is the publicly traded parent company of WeedMD RX Inc. a licence holder developing and distributing cannabis products and solutions for both of those the medical and grownup-use markets. The Organization owns and operates a 158-acre state-of-the-artwork greenhouse, outdoor and processing facility situated in Strathroy, ON as nicely as a entirely-accredited 26,000 sq. ft. Aylmer, ON processing facility, specializing in hashish extraction. With the addition of Starseed Medicinal, a health-related-centric manufacturer, Entourage has expanded its multi-channeled distribution method. Starseed’s field-initially, unique partnership with LiUNA, the premier construction union in Canada, alongside with companies and union teams enhances Entourage’s immediate profits to clinical clients. In July 2021, Entourage signed a definitive agreement to receive craft cultivator CannTx Everyday living Sciences Inc. which operates out of its state-of-the-art micropropagation and specialty extraction facility in Guelph, Ontario. On the anticipated closing in late summer time 2021, craft brand name Royal Metropolis Hashish will be extra to Entourage’s elite product or service portfolio. The Business maintains strategic interactions in the seniors’ marketplace and provide agreements with Consumers Drug Mart as nicely as eight provincial distribution businesses exactly where grownup-use models Coloration Cannabis and Saturday Cannabis are offered. Entourage is also the exclusive Canadian producer and distributor of award-winning U.S.-dependent wellness brand Mary’s Medicinals offered in the two professional medical and grownup-use channels.
About the Boston Beer Organization
The Boston Beer Firm, Inc. (NYSE: SAM) commenced in 1984 brewing Samuel Adams beer and the Samuel Adams manufacturer is presently regarded as a single of the largest and most highly regarded craft beer brands. Our portfolio of makes also consists of Certainly Challenging Seltzer, Twisted Tea, Offended Orchard Hard Cider, and Dogfish Head Brewery as very well as other craft beer manufacturers these types of as Angel Town Brewery and Coney Island Brewing. Boston Beer formed BBCCC, Inc. in Toronto, ON in 2021 to as a individual subsidiary to explore the non-alcoholic hashish beverage place. To learn far more, remember to visit www.bostonbeer.com
About Althea Group Holdings
Althea Team Holdings Ltd (ASX:AGH) is a international leader in the production, gross sales and distribution of cannabis-based medications and recreational cannabis products. AGH companies these sectors by way of two distinct business units. Althea, the company’s pharmaceutical enterprise, delivers a comprehensive array of hashish-based mostly medications which are produced obtainable to patients by using prescription. Peak Processing Options, AGH’s leisure cannabis company, creates lawful hashish products obtained by adult shoppers in retail suppliers. To learn extra about Althea, you should stop by: www.althea.lifetime. For far more info on Peak, you should go to www.peakprocessing.com
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Forward Hunting Data This press launch has “forward-wanting facts” within just the this means of relevant Canadian securities laws which are based mostly on Entourage’s recent inside expectations, estimates, projections, assumptions and beliefs and sights of long term gatherings. Forward-seeking information and facts can be determined by the use of ahead-hunting terminology such as “count on”, “probable”, “may”, “will”, “should really”, “intend”, “foresee”, “opportunity”, “proposed”, “estimate” and other related words, together with detrimental and grammatical versions thereof, or statements that particular gatherings or ailments “may”, “would” or “will” transpire, or by discussions of tactic. Ahead-hunting details in this push release includes, but is not limited to, info in regard of the manufacture and distribution of cannabis-infused beverages pursuant to the development, supply, manufacturing, gross sales and promoting agreements entered into by the Company and the potential customers thereof.
The ahead-searching information and facts in this information release is based mostly on the anticipations, estimates, projections, assumptions and sights of foreseeable future situations which management thinks to be acceptable in the conditions. Forward-wanting information contains estimates, strategies, anticipations, views, forecasts, projections, targets, assistance or other statements that are not statements of truth. Forward-on the lookout info automatically include recognised and unknown challenges, which include, without limitation, dangers linked with common financial conditions adverse market occasions loss of marketplaces upcoming legislative and regulatory developments inability to entry sufficient cash from inner and external sources, and/or lack of ability to access enough funds on favourable phrases the cannabis market in Canada generally the skill of Entourage to employ its enterprise techniques the COVID-19 pandemic levels of competition crop failure and other hazards.
Any forward-on the lookout details speaks only as of the date on which it is manufactured, and, other than as expected by law, Entourage does not undertake any obligation to update or revise any forward-wanting facts, irrespective of whether as a final result of new details, upcoming occasions or normally. New elements arise from time to time, and it is not probable for Entourage to predict all this sort of components. When looking at this forward-searching details, visitors should keep in mind the risk things and other cautionary statements in Entourage’s disclosure files filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The danger things and other elements pointed out in the disclosure files could trigger real gatherings or results to vary materially from people described in any forward-seeking information.
Third Occasion Info This press release features industry and marketplace information that has been acquired from third party resources, which includes industry publications. The Organization thinks that the sector info is precise and that its estimates and assumptions are fair, but there is no assurance as to the accuracy or completeness of this data. Third get together resources commonly point out that the information and facts contained therein has been obtained from resources thought to be trusted, but there is no assurance as to the accuracy or completeness of incorporated information. Even though the details is considered to be reputable, the Organization has not independently verified any of the information from 3rd celebration sources referred to in this push release or ascertained the fundamental financial assumptions relied on by such sources
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1 https://www.prnewswire.com/information-releases/cannabis-drinks-market place-measurement-to-increase-at-17-8-cagr-by-2025–owing-to-increase-in-sale-of-cannabis-infused-drinks–million-insights-301247061.html