Posturing for the beverage market is heating up. After Molson put out it Ceria non-alcoholic beer for limited distribution (Colorado only) Canopy Growth & Acreage Holdings appear to be entering the game with the hire of a former Heineken executive!
From “Cannabis Investors Report”, July 27, 2019: Acreage Holdings Adds a Big Hire from Heineken
By Greg Miller
Welcome to the Cannabis Investor’s Report weekly portfolio review.
As you know, Canopy Growth Corp. (NYSE: CGC) plans to acquire Acreage Holdings (CSE: ACRG, OTC: ACRGF) when the federal prohibition on cannabis ends. With Constellation Brands (NYSE: STZ) having a stake in Canopy Growth, that means Acreage will also have a big alcohol giant behind it.
But Acreage isn’t waiting for the deal to close to tap into the beer industry. On July 23, the company announced it was hiring Laurence Wolfe as the Senior Vice President of Manufacturing and Distribution. Wolfe has over 20 years of experience leading brands in the food and alcohol industry, and he was the Senior Vice President of Operations at Heineken USA. During his time there, he was responsible for the end-to-end supply chain management. Wolfe will develop strategic supply chain partnerships, which is a sign that the company is ready to expand.