Molson Coors Beverage: Truss CBD USA plans expansion in Colorado
Seven months after launching its first CBD drinks in retail stores in Denver, Truss CBD USA is expanding the distribution of its Veryvell line to other parts of Colorado.
After a good start in the Denver metro under the distribution of Coors Distributing Company, owned by Molson Coors, the range of sparkling non-alcoholic CBD drinks will be rolled out to other independent distributors and retailers across the state later this month- here and in August.
Produced by Truss CBD USA, a joint venture between Molson Coors Beverage Company and Canadian company HEXO Corp., Veryvell is the company’s first entry into the US CBD market and the latest example of Molson Coors’ ambitions beyond the beer aisle. .
“This is a great opportunity for us to show that other distributors are ready to step into the CBD ring, with Veryvell representing the first brand of CBD they will carry,” said Jane Armstrong Hockman, Managing Director of Truss CBD USA. “It’s a vote of confidence from the network that will set us up for long-term success.”
The enthusiasm of retailers and distributors is rooted in three main factors, according to Hockman: profit, potential and incrementality.
“They find that a CBD drink is almost 100% incremental in their wallet,” she says.
Mike Pfalmer, president of distribution company Keg 1 Colorado, says addition of the Truss portfolio gives his company “the opportunity to align with our # 1 partner on the way forward in a new product category “.
Keg 1 Colorado, he says, is monitoring the CBD grade in Colorado, and “while we don’t know how big it will be or when it lands, we do know it will.”
Made with adaptogens, Veryvell is derived from hemp, contains no calories and no sugar. It comes in three flavors, each adapted to a specific consumer need:
- To concentrate (Grapefruit Tarragon): a combination of grapefruit and tarragon with ginseng and guarana
- Mind and body (Strawberry Hibiscus): a mixture of strawberry and hibiscus with ashwagandha and elderberry
- Relax (Blueberry Lavender): a blend of blueberry and lavender with ashwagandha and L-theanine
The expansion comes after a successful start for Veryvell, which has landed in 97% of its target retailers with its three flavors.
“Seeing this kind of targeted success is very encouraging, and it’s one of our first wins,” says Greg Allen, Director of Sales and Distribution for Truss CBD USA. “Whether consumers choose because of flavor profile or their opportunity based on our adaptogens, they’ve shown a lot of interest and enthusiasm. One of our main selling points is that there is a flavor for every occasion. ‘
While the vast majority of Truss products have so far been sold through independent retail stores, the company is starting to focus on on-site accounts such as bars and taverns when they reopen after the pandemic, said Allen. “We are committed to building the on-site and are excited about the potential to expand the alcohol-free menu through CBD mocktails and the bartender’s creativity.”
Still, he says, the company expects most volumes to move off-site, especially as more and more consumers feel comfortable with CBD and are increasingly turning their backs on CBD. to the product.
“More and more people are trying it out and they like the idea,” says Allen. “In our first six plus months in the market, we’ve learned a lot. And we are ready to put them to work. We are ready to set out to prepare ourselves and our partners for long-term success. ‘