As the cannabis industry continues to grow in the United States, much of the public is waiting for their favorite name brands to get in on some of the action. Sazerac, the brand responsible for the popular flavored cinnamon whiskey Fireball, did just that.
The company rolled out a line of cannabis-infused edibles, a product that bears the ubiquitous Fireball name. One would assume that a beverage giant releasing an edible inspired by their leading drink would get some attention. However, it would seem that such was not the case. The product is as of yet only available in Nevada, and it seems as though no one has been talking about it.
This should be cause for confusion for many, especially considering Fireball’s name recognition and Sazerac’s worth of around $4 billion. It has also been a popular expectation that the growing popularity of cannabis resulting from legalization would result in customer-favorite brands throwing their hats in the ring. Sazerac’s Fireball edibles have done just that but, for the moment, the crowd remains silent.
However, Fireball’s lack of media recognition has done nothing to negatively affect the customer response to its flagship cannabis gummies. The reviews for these cinnamon whiskey candies, although limited, appear to be consitently positive. In fact, they are currently the #7 best selling edible product in Nevada’s market.
A Growing Trend With Beverage Companies
Although certainly a first in terms of introducing a tangible product to the market, Sazerac is not the first beverage giant to make its intentions known in terms of entering the cannabis business. However, the entrance of other brands has been on the more subtle side. For companies like Anheuser Busch and Constellation, their involvement has taken place backstage.
Constellation is a beverage company responsible for Svedka, Modelo, and Corona. The company is pouring millions into equity in Canopy, the largest cannabis stock in the world. At present, they own a third of Canopy’s stock and will likely develop cannabis products in the near future.
Anheuser Busch, responsible for gobbling-up loads of American and Canadian craft beer companies, recently made a joint venture with Canada-based cannabis conglomerate HEXO. This partnership will likely result in a variety of Canadian cannabis products. The country just recently saw edibles hitting the shelves of dispensaries on December 17. Given that, Anheuser will no doubt look to find their place on said shelves.
The tide is turning in terms of previously established food and beverage companies exploring the cannabis market. Fireball may have been one of the first to get their name slapped onto a cannabis edible, but you can rest assured that they will not be the last.
