The world’s leading brewer, AB InBev, and Tilray have ended their partnership, reported MJBizDaily.
When Tilray first announced the partnership in 2018, the two companies had pledged to invest $50 million in the venture, called Fluent Beverage Co. Each company had a 50% ownership interest.
“We do not expect these changes to have any significant impact on Fluent’s day-to-day operations as it remains focused on commercializing CBD-infused non-alcoholic beverages in Canada,” said Tamar Nersesian, communications director for Labatt Breweries of Canada, a subsidiary of AB InBev.
“We concluded our joint venture relationship with AB InBev,” (…) “We retained the manufacturing equipment associated with CBD and THC beverages, obtained a royalty-free, perpetual, worldwide license to utilize the technology related to the manufacture of CBD and THC beverages, which was developed by the joint venture and negotiated a co-manufacturing arrangement to manufacture CBD beverages on behalf of Fluent,” Tilray disclosed in a regulatory filing on Monday.
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The world’s leading brewer, AB InBev, and Tilray have ended their partnership, reported MJBizDaily.
When Tilray first announced the partnership in 2018, the two companies had pledged to invest $50 million in the venture, called Fluent Beverage Co. Each company had a 50% ownership interest.
“We do not expect these changes to have any significant impact on Fluent’s day-to-day operations as it remains focused on commercializing CBD-infused non-alcoholic beverages in Canada,” said Tamar Nersesian, communications director for Labatt Breweries of Canada, a subsidiary of AB InBev.
“We concluded our joint venture relationship with AB InBev,” (…) “We retained the manufacturing equipment associated with CBD and THC beverages, obtained a royalty-free, perpetual, worldwide license to utilize the technology related to the manufacture of CBD and THC beverages, which was developed by the joint venture and negotiated a co-manufacturing arrangement to manufacture CBD beverages on behalf of Fluent,” Tilray disclosed in a regulatory filing on Monday.