TORONTO — Canopy Rivers Inc. is investing $9 million to aid in Greenhouse Juice Company’s expansion and development of natural health-and-wellness beverages infused with cannabidiol (CBD).
“As a plant-based health-and-wellness brand, Greenhouse is excited to continue our mission by expanding across Canada and extending into CBD-based beverages,” says Anthony Green, CEO of Greenhouse. “CBD shows evidence-based potential as a potent, non-psychoactive wellness ingredient and Greenhouse is uniquely positioned to be a trusted leader in this new space. We’re very excited to partner with Canopy Rivers — a global player in cannabis innovation — to introduce our brand to a growing audience and unlock the wellness potential of CBD-based beverages.”
Founded in January 2014, Greenhouse has expanded from a single retail outlet to an omnichannel business with 15 corporate-owned retail stores, an e-commerce delivery service and a growing network of distribution partners. The Toronto-based company is currently developing a new line of products that will utilize full-spectrum CBD extracts, pure CBD isolates and other non-psychoactive cannabinoids.
“We believe CBD is poised to become a major ingredient within consumer-packaged-goods wellness products,” says Narbe Alexandrian, president, Canopy Rivers. “Over five years, Greenhouse has built a successful, well-recognized beverage brand and a state-of-the-art manufacturing facility capable of producing a wide range of products. We see high-quality, low-sugar beverages as being ideal for infusion with non-psychoactive CBD and we believe Greenhouse’s expansion into CBD-based products will further solidify its leadership position in the health-and-wellness space.”
Additionally, Canopy Rivers recently subscribed for $1.5-million in preferred shares in 10663522 Canada Inc., or Herbert — a brand established by certain principals of Greenhouse that focuses on the adult-use cannabis beverage and edibles market. Through a supply arrangement with Greenhouse, Herbert will leverage the company’s existing purpose-built, food-grade and GMP-compliant production and processing facility. Herbert’s core beverage offering will focus primarily on THC-infused products designed for distribution within Canada.
“Herbert represents an opportunity for Canopy Rivers to be invested at a very early stage in a company focused on the adult-use cannabis beverage and edible product segment,” says Alexandrian. “In the U.S., cannabis-infused beverages have emerged as a high-growth segment within the ingestibles category and include a variety of products in both THC- and CBD-dominant formats. In Canada, we expect similar growth beyond dried flower and oils, into food and beverage. Canopy Rivers believes that Herbert — equipped with existing R&D, marketing and manufacturing expertise — has the ability to enter this market quickly and achieve success in creating widely appealing THC-infused beverages and edibles under this new standalone brand.”