This Bud is Literally for You — Cannabis-Infused Budweiser Coming?
The maker of Budweiser is partnering with medical cannabis company Tilray in a $100 million deal to research cannabis-infused drinks for the Canadian market.
Canada, which legalized recreational marijuana in October, has emerged as a world leader in the cannabis industry, which is surging as legalization also slowly expands in the United States.
Anheuser-Busch InBev and Tilray Inc. said each would invest $50 million in the project to study non-alcoholic drinks containing cannabidiol, or CBD, which some claim has calming and healing affects, and THC, the cannabis compound known for its psychoactive effects.
North American consumer spending on legal cannabis is expected to grow from $9.2 billion in 2017 to $47.3 billion in 2027, according to Arcview Market Research, a cannabis-focused investment firm.
Earlier this month, Marlboro maker Altria Group Inc. invested $1.8 billion for a 45 percent stake in Cronos Group, a Canadian medical and recreational marijuana provider.
In August, wine, liquor and beer company Constellation Brands announced a $4 billion investment in Canadian pot producer Canopy Growth Corp.
Coca-Cola, Pepsi and Guinness brewer Diageo have said they are closely watching the market for cannabis as it evolves.