Yet another major U.S. alcohol company is getting into the cannabis sector.
Breakthru Beverage, a multi-state wholesaler that was formed via the 2015 merger of Chicago-based Wirtz Beverage Group and New York’s Charmer Sunbelt Group, has agreed to invest $9.2 million in CannTrust, a Canadian marijuana maker.
In a press release, the two companies announced a letter of intent that will make Breakthru the exclusive distributor of CannTrust’s recreational marijuana products throughout Canada.
“Breakthru was the first nationally established beverage alcohol broker in Canada and is the country’s leader in representing top beverage alcohol brands in the marketplace,” CannTrust president Brad Rogers said via the release. “Their progressive model, sales technology, infrastructure and extensive relationships across Canada make them an ideal fit for our business strategy.”
According to the statement, Breakthru will facilitate sales via a newly formed subsidiary and