Boston Beer (SAM) to Begin Research and Development of Non-alcoholic Cannabis Beverages
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The Boston Beer Company (NYSE: SAM) today announced that it is establishing a subsidiary to serve as a dedicated research and innovation hub in Canada focused on non-alcoholic cannabis beverages. Boston Beer, the maker of recognized alcohol brands such as Samuel Adams and Truly Hard Seltzer, hopes to continue its industry-leading track record of innovation in this emerging space.
"Our mission since day one has been to offer drinkers the highest quality, best tasting products, and they continue to seek new options," says Dave Burwick, Boston Beer CEO. "Innovation is core to what we do, beginning with craft beer, then hard cider, hard iced tea, and now Truly Hard Seltzer. We believe non-alcoholic cannabis beverages could represent a new frontier of innovation and want to be ready for future opportunities in the US."
Boston Beer has hired industry veteran Paul Weaver to lead a new cannabis beverage research hub in the federally regulated market of Canada. This new subsidiary will enable the company to develop and pilot unique cannabis beverages while cannabis regulations continue to evolve in the United States and worldwide.
"Boston Beer's reputation for quality is unrivaled, and the same sensibilities that drive development in beer ring true in cannabis beverages. Quality ingredients and craftsmanship make quality products, and our success begins with respecting the plant and respecting the growers," added Paul Weaver, Director, Head of Cannabis.
"This is just the beginning of our journey and, like any craft, requires a continuous commitment to learning. We know cannabis is new for many of our drinkers and they deserve the best, which is why we're taking the time to do this right," shared Weaver.
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