Canada-based cannabis and beverage company Tilray Brands has entered the US THC drinks market with a range of Delta-9 THC mocktails and seltzers.
The Delta-9 THC beverages will be launched in “key markets” across the US at the start of next month. The range includes brands such as the seltzers 420 Fizz and Fizzy Jane’s, as well as the mocktails Herb & Bloom and Happy Flower.
“As consumers seek out new and alternative adult beverages, Tilray is strategically entering the growing HDD9 beverage category in the US market with a consumer-centric model that targets different occasions across various consumer audiences and price segments,” a spokesperson for Tilray said.
Tilray has previously discussed how cannabis beverages were becoming “a familiar format” for consumers in its domestic market. The company’s cannabis-infused drinks include XMG, Bedfellows and Little Victory.
Speaking to investors following the publication of Tilray’s full-year results in July, chairman and CEO Irwin Simon said a “lot of” beer distributors had contacted the group requesting THC beverage brands.
In March, Tilray developed a range of alcohol-free seltzers under its cannabis-infused drinks brand Mollo in Canada.
Marijuana is already legalised for adult use in 24 US states. In May, US President Joe Biden set out plans to reclassify marijuana as a less addictive drug under federal law.
In California, emergency legislation proposed by Governor Gavin Newsom that bans the sale of hemp THC products in the state was passed this week. The ban affects hemp food, beverage and dietary products that have a detectable level of THC.
Tilray's net revenue from its beverage-alcohol business stood at C$202.1m ($145.9m) in the year ending 31 May, more than double a year earlier. Gross profit from the division was up 91% to C$88.6m year on year.
On a group level, Tilray reported revenue of C$788.9m in 2024, up 26%. It posted a 14% increase in gross profit to $223.4m. In total, net losses for the year were C$222m, an improvement on C$1.44bn the previous year, which included the beer acquisitions.
Tilray generates 25% of its revenue from beverage alcohol, 35% from cannabis, 33% from its distribution business and 7% from “wellness” products, including hemp oils.
