FLGC - Cannabis Joint Venture Looks To Capitalize On Marijuana Beverages As Growing Alternative To Alcohol | Benzinga

Flora Growth Corp. (NASDAQ:FLGC) has formed a joint venture with Althea Group Holdings (ASX: AGH) to debut in the booming hemp-derived beverage market.

What Happened

Peak USA JV LLC is designed to capitalize on current commercial opportunities in the beverage market in the U.S.

It will utilize and combine Flora’s U.S.-based CPG team with Althea’s Peak Processing Solutions – which is a recognized operator in the cannabis-infused beverages space. Peak has a 40% market share in Canada.

Moreover, the new collaboration will combine Flora’s brand-launching expertise with Althea’s processing experience to "produce the next generation of beverages for the U.S. market," Flora said in a press release.

See also: Cannabis Beverages At Liquor Stores? Largest Wine Retailer In US, Selling $6B/Year, Adding THC To The Menu

Why It Matters

Flora Growth CEO Clifford Starke explained what the new ...

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