Cannabis Joint Venture Looks To Capitalize On Marijuana Beverages As Growing Alternative To Alcohol
Flora Growth Corp. (NASDAQ:FLGC) has formed a joint venture with Althea Group Holdings (ASX: AGH) to debut in the booming hemp-derived beverage market.
What Happened
Peak USA JV LLC is designed to capitalize on current commercial opportunities in the beverage market in the U.S.
It will utilize and combine Flora’s U.S.-based CPG team with Althea’s Peak Processing Solutions – which is a recognized operator in the cannabis-infused beverages space. Peak has a 40% market share in Canada.
Moreover, the new collaboration will combine Flora’s brand-launching expertise with Althea’s processing experience to “produce the next generation of beverages for the U.S. market,” Flora said in a press release.
Why It Matters
Flora Growth CEO Clifford Starke explained what the new …