Tilray And Budweiser Maker AB InBev Call Off Cannabis Beverage Partnership

The world’s leading brewer, AB InBev BUD, and Tilray TLRY 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.