Just Drinks

Daily Newsletter

15 September 2023

Daily Newsletter

Canopy Growth stops funding BioSteel due to “significant cash burn”

“We believe the brand remains an attractive asset [but] it does not align with Canopy Growth’s cannabis focused asset-light strategy” – Canopy Growth.

The founder of Owney’s Rum, Bridget Firtle, has bought back the rum brand from Proximo Spirits, a subsidiary of Mexican spirits major Becle.

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Non-alcoholic beverages (NAB) market remain resilient despite inflationary pressure

Per GlobalData analysis, the NAB market has a strong outlook in terms of value and steady forecasting for volume up to 2026. The industry has been resilient to the pandemic and inflationary pressure as consumers continue to up their intake of NABs. Rising health and wellness trends mean that a growing number of consumers are swapping alcohol consumption for NABs while others are adding more drinks to their diet for improved hydration and extra nutritional value from fortified and functional NABs.