A major tea company is going to pot to boost sales.
The company behind Arizona Iced Tea is getting into the market for marijuana-laced gummies and drinks in the U.S. and Canada, seeking new avenues for growth after losing ground in its core tea business, reports Jennifer Maloney of the Wall Street Journal.
With marijuana no longer being the forbidden fruit it once was in many states and across Canada, Arizona Beverage Co. has reached a licensing deal with Dixie Brands Inc., a Denver-based cannabis company that makes and sells weed vaporizers, candies, drinks, tinctures and topical creams in five U.S. states. Under the agreement, Dixie will manufacture the products and sell them through licensed dispensaries.
This isn’t the first time a beverage company has decided to wade into lucrative cannabis waters.
In September of last year, the Alkaline Water Company announced the formation of an unfused beverage division that would bring new products to market, including hemp-derived CBD infused water.