mood33 Announces Distribution Agreement With Carol Bartz And Joe Montana-Backed Caliva

mood33, a California of cannabis-infused beverages maker, earlier this week announced a distribution agreement with Caliva.

The partnership will expand mood33’s retail presence across California, and will increase its online and direct-to-consumer sales by 400 percent over the next year, the company said.

Speaking with Benzinga, mood33 co-founder and CEO Michael Christopher said Caliva has done a great job at building a standard for quality, commitment to compliance, and consistency of brand across its entire ecosystem.

“The fact that their executive team is seeking to build a best in class cannabis beverage portfolio as it expands its reach throughout the state signifies a market maturation and evolution we at mood33 have been eagerly awaiting," he said.

Christopher said the mood33 team believes smoke-free products will only gain marketshare as downstream processing and manufacturing innovations continue to emerge.

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“Beverages will be a large part of the future cannabis consumer shelf environment, so partnering with Caliva to help bring this category into light is a very exciting moment for the mood33 brand," Christopher told Benzinga. "We believe mood33’s team of native CPG and beverage brand building professionals, matched with Caliva’s own CPG heavy beverage team and well-established credibility and cannabis market dominance will propel the cannabis beverage category forward for years to come.”

Caliva counts NFL Hall of Famer Joe Montana and Carol Bartz ((former CEO of Autodesk, NASDAQ:ADSK) and Yahoo) among its investors.