In fact, the company’s India Pale Ale (IPA) is the #1 bestselling beer in its category worldwide.
After 25 years of brewing, Lagunitas now plans a new product line . . .
“IPA-inspired sparking water infused with THC.”
Lagunitas Brewing is partnering up with AbsoluteExtracts to produce the THC-infused drinks.
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Under the partnership, Lagunitas will supply the IPA-inspired sparking water. And AbsoluteExtracts will handle the infusion of THC.
The new sparking water drink will have zero calories and can be infused with either THC or CBD.
The product line, called “Hi-Fi Hops,” will be available starting July 30. The drinks will only be available at state-licensed dispensaries within the state of California.
Since 1993, the company from Northern California has been producing amazing craft beers. Today, its annual production exceeds 916,000 barrels.
The company’s move toward THC-infused drinks is a milestone for the brewing industry.
The rapid growth of the cannabis market has some brewers concerned that cannabis will hurt the alcohol business.
That’s one reason that Constellation Brands (NYSE: STZ) invested $191 million for a 10% equity stake in Canopy Growth (NYSE: CGC). Along with that investment, Constellation and Canopy agreed to partner up to product THC-infused beverages.
The worldwide market for beer isn’t growing. Craft brewers like Lagunitas are better positioned for growth than the major brewers like Anheuser Busch InBev (NYSE: BUD). But even Lagunitas sees the growth potential in the cannabis market.
That’s why the company is making a bold move to quickly introduce its own THC drinks. I’d expect other companies will be following in their footsteps as well.
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