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Yahoo
5 days ago
- Business
- Yahoo
Tilray wants to light up US market for hemp-derived drinks
This story was originally published on Food Dive. To receive daily news and insights, subscribe to our free daily Food Dive newsletter. Canada's largest cannabis producer wants to break through the hazy U.S. market with an expansion of hemp-based drinks. Tilray Brands has expanded its presence in states with an infrastructure for hemp-derived drinks like Georgia and Florida. Tilray launched hemp-derived THC drinks in several markets across the U.S. and the company's drinks are now in 1,000 stores across the country, according to its latest earnings call. Sales of hemp-derived THC drinks brought in $382 million in 2024, according to Brightfield Group. U.S. sales are expected to grow to nearly $750 million by 2029. Jared Simon, the president of Tilray Wellness, said many of the hundreds of retailers it works with in the alcohol ecosystem, like beer and liquor stores, are open to growing the presence of hemp drinks. 'That's a big synergy that we have as Tilray, and having a network of hundreds of new distributors that we already work with,' Simon said. 'We've innovated time and time again with cannabis-driven THC in the Canadian market, and we've been able to take those learnings and apply them to hemp-derived THC here in the U.S.' Tilray was able to begin selling hemp delta 9-derived drinks because of a loophole in the 2018 Farm Bill, which allows companies to sell drinks with 0.3% THC. This has allowed for the sale of the drinks across state lines in several states. Other brands, like Jones Soda's Mary Jones, have rolled out similar products. Tilray has struggled in the U.S. cannabis market as the path to national legalization remains unclear. The company pivoted to beverages in the U.S., becoming the fifth largest craft brewer through a series of acquisitions from beer giants Molson Coors and Anheuser-Busch. As traditional cannabis and alcohol sales slow, Tilray is positioning hemp-derived drinks as a wellness product that helps consumers unwind without getting them high or drunk. The company also introduced non-alcoholic drinks within its craft beer brands. But the company's financial state is driving concern as consumer sentiment declines. On its earnings call last month, the company reported a $700 million non-cash impairment charge linked to 'market volatility' and a perception of reduced likelihood of cannabis regulation, the company's CFO Carl Merton told investors. Tilray's CEO and chairman Irwin D. Simon said the company is confident in its potential for long-term success, and sees the current hit to its revenue as a temporary roadblock. He pointed to the company's cannabis infrastructure and diversification strategy across the beverage industry. Simon said Tilray has aspirations to make hemp-derived drinks a "multi-million dollar business." More consumers are switching from cannabis to hemp-derived THC, according to Brightfield Group. A survey from the research firm found 22% of respondents said hemp-derived drinks served as an entry point into the cannabinoid world, potentially creating new cannabis customers for companies like Tilray. "I think a big thing is educating the consumer what hemp-derived drinks are and what Delta-9 drinks are, and the benefits from them," Simon said in an earnings call. "So that's a big, big opportunity for us.' Sarah Zimmerman contributed to this story. Recommended Reading Tilray bets big on beverages to drive growth
Yahoo
18-03-2025
- Business
- Yahoo
Manitoba Harvest Collaborates with Whole Foods Market for Nationwide Launch of Superseed Snack Clusters
Tilray's Leading Hemp Food Brand, Manitoba Harvest, Expands Superfood Portfolio with New Sweet and Salty SnacksNEW YORK, March 18, 2025 (GLOBE NEWSWIRE) -- Manitoba Harvest, the global leader in hemp foods and a Tilray Brands, Inc. company ('Tilray') (NASDAQ: TLRY and TSX: TLRY), expands into functional snacking with new Superseed Snack Clusters, now exclusively available at select Whole Foods Market stores nationwide. Innovation Backed by Nutrition Crafted with premium seeds, including hemp hearts, pumpkin seeds, sunflower seeds, chia and flax, Manitoba Harvest's Superseed Snack Clusters strike a perfect balance of crunchy and craveable. Enjoy convenient, guilt-free snacking with 5g of plant-based protein per serving, essential fatty acids, fiber, and key vitamins and minerals to help fuel your day. "Our Superseed Snack Clusters are a delicious way to enjoy the benefits of hemp and other superseeds," says Jared Simon, President of Manitoba Harvest and Tilray Wellness. "Snacking should be nourishing and satisfying, and these clusters deliver on both. We're proud to collaborate with the visionary team at Whole Foods Market to bring these artisanal snacks to consumers nationwide." Nutritional Benefits Per Serving: 5 grams of plant-based protein 5 grams of Omegas 3 & 6 2 grams of fiber A good source of 9+ essential vitamins and minerals Available in Three Delicious Flavors: Maple Cinnamon – Balancing sweet maple and warm spices, these clusters are perfect alone or on top of yogurt and ice cream. Dark Chocolate – Rich in flavor and nourishment, these Dark Chocolate and sea salt bites are satiating and satisfying for a guilt-free indulgence. Smoky BBQ – Balancing warm heat and smoky flavors, these savory bites are a perfect match for salty snack time cravings. Availability Manitoba Harvest's Superseed Snack Clusters are now available exclusively on and at Whole Foods Market locations nationwide For more information, visit About Manitoba Harvest Manitoba Harvest is a pioneer and leader in branded hemp-based foods and is recognized as a Certified B Corporation and the first Canadian food company to attain a Carbonzero Certification. Taking the seed-to-shelf approach since 1998, Manitoba Harvest is committed to quality, sustainability, and consumer wellness. With an extensive product portfolio of Hemp Hearts (shelled hemp seed), Hemp Protein, Hemp Protein Blends, Hemp Granola, and Hemp Oil, Manitoba Harvest products are sold globally and in approximately 17,000 retail stores across North America. To learn more about Manitoba Harvest and shop, visit and follow @manitobaharvest across all social platforms. About Tilray Brands Tilray Brands, Inc. ('Tilray') (Nasdaq: TLRY; TSX: TLRY), is a global lifestyle and consumer packaged goods company at the forefront of beverage, cannabis and wellness industries with operations in Canada, the United States, Europe, Australia, and Latin America that is leading as a transformative force at the nexus of cannabis, beverage, wellness, and entertainment, elevating lives through moments of connection. Tilray's mission is to be a leading premium lifestyle company with a house of brands and innovative products that inspire joy, wellness and create memorable experiences. Tilray's unprecedented platform supports over 40 brands in over 20 countries, including comprehensive cannabis offerings, hemp-based foods, and craft beverages. For more information on Tilray Brands, visit and follow @Tilray. Forward-Looking Statements Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, 'forward-looking statements') under Canadian and U.S. securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the 'safe harbor' created by those sections and other applicable laws. Forward-looking statements can be identified by words such as 'forecast,' 'future,' 'should,' 'could,' 'enable,' 'potential,' 'contemplate,' 'believe,' 'anticipate,' 'estimate,' 'plan,' 'expect,' 'intend,' 'may,' 'project,' 'will,' 'would' and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections, or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses, or current expectations. Many factors could cause actual results, performance, or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed annual information form of Tilray and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events, or otherwise unless required by applicable securities laws. For further information, please contact Media: news@ Investors: investors@ A photo accompanying this announcement is available at
