Cannabis Producer Green Thumb Partners With Gwyneth Paltrow-Backed Beverages Brand

Article by Arunima Kumar, Toronto Sun

Pot producer Green Thumb Industries Inc said it would make and distribute Gwyneth Paltrow-backed CBD-infused sparkling water “Cann” across the U.S, banking on the brand’s early success in California and rising demand for cannabis drinks.

Green Thumb, among the largest U.S. cannabis companies by market value, said on Wednesday it would begin distributing Cann in Illinois this spring and later expand to additional markets, including New Jersey, which recently legalized recreational marijuana.

Top cannabis operators across North America are trying to establish early dominance in the drinks market, a product considered to be more socially accepted than smoking is.

“It’s the easiest kind of way to see new users enter the space … much easier for me to share a drink with my mother than to share a joint,” Ben Kovler, Green Thumb’s chief executive officer told Reuters.

Sales of cannabis-infused beverages were up 40% last year, according to data from Headset, used widely by industry analysts.

Cannabis companies are also betting that there is room for significant growth ahead, as leading U.S. Democrats lend support to laws allowing easier banking access, decriminalization of marijuana and other favorable changes.

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