Peak Partners With Boston Beer To Produce Cannabis-Infused Beverages In Canada

Author: Shivani Kumaresan | September 01, 2021 12:17pm

Althea Group Holdings subsidiary Peak Processing Solutions has entered into agreements with BBCCC, Inc., a subsidiary of Boston Beer Company Inc. (NYSE:SAM), and WeedMD Rx Inc., a subsidiary of Entourage Health Corp (OTC:WDDMF), to develop, produce, and distribute cannabis-infused beverages in Canada.
Under the five-year supply and manufacturing agreement, Peak will be the exclusive manufacturer of all cannabis beverage products produced and sold in Canada under Boston Beer branding.
Boston Beer will provide up to $2 million to fund capital expenditure costs, including the construction and furnishing of laboratory facilities and additional production-related equipment.
In addition, Peak will receive a minimum of $0.285 million for each year of the agreement term.
Entourage will be responsible for the distribution and sales of cannabis-infused beverages in Canada.
Price Action: SAM shares are trading higher by 2.04% at $581.84 on the last check Wednesday.