Bill Silver, president of new markets for CannaCraft, shows off HiFi Hops, a marijuana-infused, nonalcoholic beverage that subsidiary AbsoluteXtracts produced in conjunction with Lagunitas Brewing Co. (Photo by Bill Reitzel)
(This is an abridged version of a story that appears in the November-December issue of Marijuana Business Magazine.)
An unthinkable collaboration not long ago, more and more marijuana businesses and mainstream companies are joining forces on products such as sleep-inducing CBD gummies, infused beverages and pharmaceutical-grade medications.
This melding of unlikely bedfellows is a sign that the cannabis sector is maturing and that mainstream companies are becoming more comfortable with marijuana.
The situation offers plenty of benefits – and hazards – for both.
Through the five key case studies below, Marijuana Business Magazine explored partnerships between mainstream businesses and cannabis companies to get a feel for how such collaborations came to be, why they were successful and, of course, why some failed.
The collaborations, which came in diverse sectors such as beverage, pharmaceutical and retail, required transparency, scrutiny and the ability to pivot.
They also included plenty of challenges and complications.
- Case study 1: AbsoluteXtracts (CannaCraft) and Lagunitas Brewing Co.
- Case study 2: Plus Products and Casper Sleep
- Case study 3: CV Sciences and CVS Pharmacy, CV Sciences and Kroger
- Case study 4: Vireo Health and Ligand Pharmaceuticals
- Case study 5: Isodiol and Asian-American Trade Associations Channel
Despite those success stories between the cannabis and mainstream sectors, there have been some failed collaborations, too. Some examples are available here.