Molson Coors, Hexo Corp serve up CBD sparkling water in more states
Truss CBD USA recently announced the expansion of Veryvell, a line of hemp-derived CBD and adaptogen beverages. The company is a joint venture by Molson Coors Beverage Company and HEXO USA Inc. Launched in Colorado in 2020, the offerings are now available semi-nationally in 17 states via direct-to-consumer online.
The company said their trio of non-alcohol, sugar-free, adaptogenic, hemp-derived CBD sparkling waters and unflavored beverage drops are designed to tailor to a variety of moods.
The line up
The ready-to-drink 12 oz cans contain 20mg CBD, contain <0.3% THC and come in three flavors:
- Focus - a combination of grapefruit and tarragon with ginseng and guarana
- Mind & Body - a blend of strawberry and hibiscus with ashwagandha and elderberry
- Unwind - a fusion of blueberry and lavender with ashwagandha and L-theanine
The beverage drops are unflavored, water soluble blends of CBD and adaptogens designed for the consumer who wants to craft their own CBD beverage. Each bottle contains 500mg of CBD. Drops also come in three offerings:
- Focus – CBD with guarana
- Mind & Body – CBD with elderberry
- Unwind – CBD with L-theanine
Jane Armstrong, Truss CBD USA general manager, told NutraIngredients-USA that the company spent a lot of time in research and development, drawing from the experience of Molson Coors Beverage Company and HEXO Corp. to develop and produce Veryvell.
“We developed strong partnerships, created processes and identified suppliers that were aligned to our ambition to bring a high-quality, consistent beverage portfolio to this emerging functional beverage category. The result was Veryvell. Veryvell has unique combinations of hemp-derived CBD and adaptogens that allow consumers to pick the beverage or beverage drop that best meets them in the moment. All ingredients in Veryvell go through extensive testing at all steps of the value and production chain. Consumers can find the 3rd party testing results by scanning a QR code on the package that will take them directly to the CofAs on the website.”
Though the beer market performed well in the past year, overall it has been flat to declining in recent years and is in a state of fragmentation, leaving manufacturers in the space to gravitate toward CBD-infused drinks as a new growth opportunity. With Molson’s expansive distribution arm and HEXO’s expertise in hemp and cannabis, Veryvell has a dual advantage in this emerging category.
“We have been brewing beer for more than 200 years and we will undoubtedly be a beer dominant company for generations. But we don’t live in an either/or world; it’s a both/and world and we need to be a great beer company and a great beverage company. That is exactly what the Emerging Growth portfolio is helping us do—expand beyond beer into growing segments that we can leverage great entries and a right to win,” explained Pete Marino, President of Emerging Growth at Molson Coors.
Marino added that Molson Coors has been successful in expanding beyond beer, a move that has diversified its portfolio to include an expanding roster of RTD cocktails, non-alcoholic beverages, better-for-you offerings, energy drinks and CBD beverages.
“We don’t comment on future plans but I will tell you that we are committed to transforming into a beverage company and will continue to execute against that strategy,” said Marino.
As Armstrong put it, “We aren’t just another CBD company, we are beverage specialists.”