NEW YORK (AP) — The maker of Budweiser is partnering with medical cannabis company Tilray in a $100 million deal to research cannabis-infused drinks for the Canadian market.
Anheuser-Busch InBev and Tilray Inc. said each would invest $50 million in the project announced Wednesday. The companies will study non-alcoholic drinks containing cannabidiol, or CBD, which some claim has calming and healing affects, and THC, the cannabis compound known for its psychoactive effects.
Canada legalized recreational marijuana in October, leading to a surge in interest from beer and tobacco companies looking to invest in the market.
British Columbia-based Tilray Inc. has products available in 12 countries. Belgium-based AB InBev is the owner of hundreds of beer brands including Budweiser and Stella Artois.
