US drinks group Jones Soda says it will keep its hemp-derived THC product line, HD9, following the sale of its marijuana-derived THC drinks business.
Earlier this week, Jones Soda announced it had sold all equity interests in its cannabis beverage business to MJ Reg Disrupters for $3m.
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The deal, at the time, was said to have included all “related cannabis-specific assets” under the Mary Jones brand.
In a statement yesterday (26 June) however, Jones Soda clarified it had “retained and continues to focus on its fast growing hemp-derived THC product (HD9) line”.
The HD9 range includes Mary Jones sodas, shooters, and gummies.
Jones Sodas president and CEO Scott Harvey said: “Although we made the strategic decision to sell our marijuana-derived THC business, we are excited about the opportunity to increase our focus on and continue to expand our distribution of our Mary Jones HD9 products, which have been some of our fastest growing product categories.”
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By GlobalDataThe HD9 portfolio has achieved four successive quarters of sales revenue increase through the first quarter of 2025, the Seattle-based company said.
Harvey, who joined the group in February this year, added: “I believe the divestiture of our marijuana-derived THC business will enable us to sharpen our strategic priorities and accelerate investment in our core soda, functional beverage, and adult beverage categories, including our hemp-infused THC segment.”
“This is a segment were we already have significant retail distribution and strong distributor networks comprised of over 26 of the top DSD distributors in the country,” Harvey concluded.
As part of the sale, Jones Soda and MJ Reg struck a ten-year trademark deal. MJ Reg will use the Mary Jones brand for consumable products with THC, paying an annual licensing fee of $150,000 in the first year and $225,000 annually thereafter, totalling $2.1m over ten years.
In 2024, Jones Soda reported total revenue of $19.1m, a 15% increase from the previous year. The beverage segment contributed $17.8m, while the cannabis segment added $1.4m.
However, the company reported a net loss of $9.9m in 2024, up from $4.9m in 2023.
In the first quarter of 2025, revenue fell 8% to $4.6m compared to the same period in 2024, with the cannabis segment generating $0.4m.
Despite the revenue decline, Jones Soda reduced its net loss to $0.9m from $1.2m in the first quarter of 2024.
