Truss CBD USA, a joint venture by Molson Coors Beverage Company and cannabis products maker HEXO USA, announced today plans to expand its Veryvell brand of CBD beverages across the country following its launch in the Colorado market last year.
Veryvell launched online and in select retail accounts in the Denver market in late 2020 and expanded its presence to on- and off-premise retailers in Colorado in July. In an email to BevNET, Truss CBD USA general manager Jane Armstrong Hockman said the company had chosen Colorado for its launch due to the established regulatory framework for CBD in the state and for its “mature CBD consumer base.” Truss is now targeting other states considered friendly to CBD food and beverage sales, she added.
The brand is now available in 16 additional states as an e-commerce exclusive product, including Alaska, Arkansas, Connecticut, Florida, Iowa, Kentucky, New Jersey, New Mexico, New York, Ohio, Oklahoma, Oregon, Texas, Vermont, Virginia and West Virginia.
“Veryvell resonated well with the Colorado consumer,” Armstrong Hockman said. “Consumers care about wellness now more than ever, and Veryvell is a functional CBD beverage that was made for this moment…. We are thrilled to now share it with individuals across the US, we think they will enjoy it as much as we do.”
Veryvell’s adaptogenic sparkling waters contain 20 mg of hemp CBD per 12 oz. can. The brand is available in three varieties: Focus (Grapefruit Tarragon flavor with ginseng and guarana), Mind & Body (Strawberry Hibiscus flavor with ashwagandha and elderberry) and Unwind (Blueberry Lavender flavor with ashwagandha and L-Theanine). The company also produces a line of beverage drops, available in 50-serving 1.7 oz. bottles which are available in the same flavor assortment. The sparkling waters are priced at $31.99 per 8-pack and the drops sell for $39.99 each or $99.99 for a variety pack containing all three flavors.
Truss also sells Veryvell branded drinks and tinctures in Canada containing both THC and CBD.
Armstrong Hockman noted that for the near future Veryvell will only be sold in retail in Colorado, where it is distributed via the Molson Coors DSD network, but the brand could extend into brick-and-mortar accounts in the listed states “when the time is right.”
“We selected these states because they are well-defined and well-regulated markets,” Armstrong Hockman said. “Our direct-to consumer approach, supported by robust media and marketing plans, will help us to raise awareness for the brand and to continue to connect with consumers as we evaluate retail market opportunities.”
The new territories also mark an expansion of Molson Coors’ stake in the emerging CBD beverage market and its overall push into non-alcoholic beverages. While the alcohol giant announced a number of new product innovations (ZOA, Huzzah!), strategic partnerships (La Colombe) and investments (ZenWTR, L.A. Libations) over the past two years, recent months have seen Molson Coors work to execute and extend its non-alc portfolio in the market.
“Veryvell is another great example of our commitment to expanding beyond beer,” said Pete Marino, president of the emerging growth division at Molson Coors, in a press release. “We have continually backed up this ambition by developing strong partnerships and launching new products. And today we’re thrilled to be expanding Veryvell through our Truss [joint venture]. This demonstrates the progress we are making to transform Molson Coors into a true beverage company.”
Meanwhile, Canada-based HEXO is establishing a broader presence in the U.S., announcing in June that it had acquired a production facility in Fort Collins, Colorado in a move that would allow it to up its presence in the U.S. CBD and cannabis markets.