Tilray, a Canadian company specializing in pot products, has acquired Smith & Sinclair, the firm that produces boozy gummies, with a plan to create an entire line of CBD (Cannabidiol) edibles.
Smith & Sinclair, a UK-based company, infuse sweet treats and candies with alcohol, to give them a fun, boozy twist. Among other products, they sell alcoholic lollipops and gummies, edible fragrances, and tablets that can transform a cocktail into a fizzy drink. Tilray will work with Smith & Sinclair to develop new CBD-infused edibles which will then be distributed across the US and Canada.
This deal will provide Tilray with another way to produce interesting cannabis-oriented products, for people who are health-conscious and don’t want to smoke a joint to feel the effects of CBD. This non-psychoactive cannabis compound is now federally legal and in great demand, ever since Congress passed a farm bill legalizing it late last year.
Tilray CEO Brendan Kennedy said: “Over the course of the last nine years, I’ve met most of the cannabis edible companies, and this team was pretty different from anything I had seen in the hemp space and the CBD space. Based on some of the R&D they have done, we believed that they could create some innovative products.”
Smith & Sinclair managing director and co-founder Melanie Goldsmith said: “The acquisition will see a turning point in the journey of Smith & Sinclair, helping us to build our international footprint and bring more ground-breaking products and ranges to market.”
Smith & Sinclair like to present themselves as ‘Willy Wonka for grown-ups.’ Their company mission is to find new ways of making being an adult more fun and less stressful.
Last year, Tilray also partnered with brewing company Anheuser-Busch InBev, in a joint venture to research the possibility of cannabis-based beverages.