Molson Coors Canada and HEXO to Partner on Cannabis-Infused Beverages

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TORONTO — Molson Coors Canada and Quebec-based The Hydropothecary Corporation (HEXO) have entered into a definitive agreement to form a joint venture to pursue opportunities to develop non-alcoholic, cannabis-infused beverages for the Canadian market following legalization.

The joint venture will be structured as a standalone start-up company with its own board of directors and an independent management team. Molson Coors Canada will have a 57.5-per-cent controlling interest in the venture, with HEXO holding the remaining ownership interest.

“Canada is breaking new ground in the cannabis sector and, as one of the country’s leading beverage companies, Molson Coors Canada has a unique opportunity to participate in this exciting and rapidly expanding consumer segment,” says Frederic Landtmeters, president and CEO of Molson Coors Canada. “While we remain a beer business at our core, we are excited to create a separate new venture with a trusted partner that will be a market leader in offering Canadian consumers new experiences with quality, reliable and consistent non-alcoholic, cannabis-infused beverages.”

Closing of the transaction, which is targeted to occur before Sept. 30, 2018.

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