Key Takeaways:
- HighBridge Holdings, Inc. and Surly Brewing have announced a collaboration for the production of THC-infused beverages.
- Surly Brewing is set to complete its facility overhaul in Brooklyn Center, MN, in Q2, enhancing production capabilities.
- HighBridge Premium, known for its variety of premium THC-infused beverages, aims to expand its distribution from 5 to 15 states in 2024.
- The collaboration is seen as a strategic move, leveraging Surly's reputation for quality and HighBridge's innovative product line, including a new co-branded product, "Majical Ice TeaZ" with Belushi's Farm.
A Strategic Collaboration for Growth and Quality
HighBridge Holdings, Inc. and Surly Brewing have announced in a news release a significant partnership to bolster the production of HighBridge's premium THC-infused beverages. This collaboration comes when HighBridge is poised for aggressive expansion, targeting a presence in 15 states by the end of 2024.
The partnership leverages Surly Brewing's upcoming facility overhaul in Brooklyn Center, Minnesota, which is expected to be completed in Q2 2024. This enhancement will equip Surly with the necessary capacity, efficiency, and quality control capabilities to meet HighBridge's production needs.
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Tom Nientimp, COO of Surly Brewing, emphasized the alignment of both companies in terms of quality, community service, and industry leadership.
"As we complete the renovation, Surly will be uniquely equipped to provide the efficiency, capacity, and quality required by HighBridge," Nientimp said in the news release. "We look forward to providing production services for HighBridge, a leading Multi-State Organization dedicated to premium quality infused beverages."
HighBridge Premium's product portfolio includes a variety of premium THC-infused offerings, such as "faux" beers, effervescent botanicals, energy drinks, and other Delta-9 THC-infused beverages. With products currently distributed in five states, collaborating with Surly is a strategic move to centralize and elevate production in anticipation of rapid growth.
Innovation and Expansion in the THC Beverage Space
The collaboration also marks the introduction of new products, including "Majical Ice TeaZ," a co-branded effort with Belushi's Farm. This move underscores HighBridge's commitment to innovation and its strategy to solidify its position as a leader in the THC-infused beverage market.
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Vicky Hunter, Co-Founder and CAO of HighBridge praised the Surly team for their professional and quality-focused approach to the collaboration. This partnership is a business transaction and a meeting of minds with a shared vision for excellence and industry leadership.
"Having the confidence to produce new products, like our "Majical Ice TeaZ", co-branded with Belushi's Farm, allows HighBridge to accelerate growth and help solidify our reputation as a leader in the THC-infused beverage space," said Hunter in the release. "The entire Surly team listened to our concerns and goals and mapped out a plan that was professional, quality-focused, and streamlined.
Why We Care
The cannabis beverages market is experiencing exponential growth, with the non-alcoholic segment leading the charge due to high demand for nutritious and wellness-oriented products.
\The increasing shift towards non-alcoholic cannabis beverages is driven by consumers' desire for health-conscious alternatives to traditional alcoholic drinks and the therapeutic benefits associated with cannabis. This trend is further supported by the rising consumer interest in cannabis edibles and alternatives to smoking, indicating a broader acceptance and integration of cannabis products into everyday lifestyles.
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North America, particularly the United States and Canada, is at the forefront of this market growth, largely due to the progressive legalization and the cultural shift towards cannabis for both recreational and medicinal purposes. The demand in this region is significantly influenced by the millennial demographic, which prefers social consumption of cannabis and is more open to trying innovative cannabis-infused products.
The market's evolution is characterized by significant investments from both new entrants and established players in the beverage and alcohol industries, looking to capitalize on the burgeoning demand for cannabis-infused drinks. This includes a range of products from THC-infused faux beers to non-alcoholic wellness beverages, catering to a diverse consumer base seeking both the psychoactive effects of THC and the health benefits of CBD.
[Image via HighBridge Premium]