SAM - Sam Adams Maker Ventures Into Cannabis Iced Tea: What's Brewing In This New Venture? | Benzinga
The Boston Beer Company, Inc. (NYSE: SAM), known for brands like Sam Adams and Twisted Tea, entered the cannabis beverage market with a vision of being the world's most innovative beverage company.
In 2022, Boston Beer launched 'Teapot,' featuring cannabis-infused iced tea in response to evolving consumer preferences amid increasing cannabis acceptance in a post-COVID world. Teapot now reigns as Canada's premier cannabis tea brand.
"We saw a unique opportunity as consumer relationships with alcohol evolve, especially in a post-COVID world, where cannabis acceptance is on the rise. This convergence of trends led us to create cannabis-infused beverages,” Paul Weaver, head of cannabis at Boston Beer told Benzinga in an exclusive interview.
"We've become the top cannabis tea in Canada, leading in Quebec, and receiving recognition from consumers and industry awards. Our decision to focus on iced teas comes from our expertise in crafting great-tasting beverages,” Weaver continued.
Marketing Challenges And Distribution Expansion
On the marketing front, building brand awareness and expanding distribution posed typical growing pains. While their brand awareness in Canada was good, expanding into dispensaries and increasing distribution required grassroots efforts, store by store.
Weaver emphasized the importance of expanding distribution, recognizing it as a gradual process while refining their manufacturing capabilities was a pivotal achievement.
Tailored Tea Pairing Strategy
Weaver ...