Waterloo Brewing Investment Highlights
2 Well-Positioned for North American Non-Alcoholic, CIB Opportunity
CIBS have the potential to fundamentally change the consumer beverage landscape; they
could form a multi-billion dollar market if consumers treat them as substitutes for
alcoholic beverages
(US$ in billions)
Cannabis Activity in 2017 and 2018
There has been a recent flurry of deals in the cannabis sector - companies of varying sizes are acquiring capabilities to develop
products across the health, vaping, edible and infused-beverage sectors
October: Constellation announced
C$245mm investment in Canopy
Growth for a 9.9% stake
June: U.S. FDA approved GW
Pharma's Epidolex, the first
drug that contains CBD
Novartis
July: Heineken-owned Lagunitas
launched a THC-infused sparkling
water (Hi-Fi Hops)
August: Constellation announced
an additional C$5bn investment in
Canopy Growth for a 38% stake
Heineken
Constellation
Brands
Anheuser-Busch
InBev
2017
$42bn
Constellation
Brands
2018
Imperial
Brands
$213bn
$35bn
$57bn
$4bn
GW
Pharma
March: Novartis formed a
strategic alliance with Tilray to
develop new cannabis-based
medications
June: Imperial Brands invested
in Oxford Cannabinoid
Technologies,
a biopharmaceutical company
$14b
Molson Coors
Pharma
Tobacco
Beverages
Sources: Factset, Company press releases
Note: Bubble size and dollar amount represent approximate market capitalization (US$) as of announcement date
11
$40bn
$102bn
$119bn
Altria
December: Altria
announced C$2.4bn
investment in Cronos
Group for a 45% stake
August: Molson Coors
announced a JV with
Hydropothecary Corp to
develop CIBS in Canada
December: ABInBev formed a
partnership with Tilray to
research non-alcoholic,
cannabis-infused beverages.
Each partner will initially invest
$50mm US in the effort
WATERLOO0
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