SAN DIEGO, Oct. 9, 2018 /PRNewswire/ -- Cannabiniers, a beverage, technology & brand management company revolutionizing the cannabis industry with first to market, patented, safe, natural and fast acting infusion technology, today announced their national expansion of Two Roots Brewing Co, the world's first line of non-alcoholic cannabis infused craft "Cannabier." The expansion begins with the execution of their first strategic brewing agreement supporting up to 50,000 annual beer barrels, or almost twenty million production units; with the objective of reaching 500,000bbls under contract or acquisition by year end.
"As a result of our Nevada launch, we now have empirical data to refine our forecasted sales levels and are now moving to secure the brewing capacity to support our twenty (20) state roll out, be it contract brewing, acquisitions or strategic alignments," said Timothy Walters, President of Cannabiniers. "Initial market response has been strong, with stores seeing on average one hundred (100) units sold per day. With sales exceeding forecasts by 300%, we are now taking orders three (3) months in advance. We need to move now and take advantage of our first mover position, in advance of changes in federal law, and market entry of Constellation Brands, InBev/AB, Diagio, or others."
Cannabiniers currently has eight (8) states under manufacture and distribution agreement, and expects to have twenty (20) or more states under agreement by the end of 2018, and are forecasting Two Roots Brewing sales to reach 500,000bbls annually by mid to late 2020. In order to support their forecasted growth, Cannabiniers is seeking additional strategic partners and select acquisitions to support their rapid first mover growth.
Crafted by expert brewers and artisans, Cannabiniers has sourced the first of its kind manufacturing and design technology to enter the United States, to create Two Roots Brewing Co. Two Roots is the only line of craft beer in the United States using this state of the art technology for de-alcoholizing beer. Two Roots' initial product offering consists of five styles including Lager, Stout, New West IPA, Blonde Ale, and Wheat; with a "Tribute" style beer that tastes like cannabis to immediately follow.
"We have been overwhelmed by the markets positive response to Two Roots Brewing, Co; as a result we have been approached by a number of large multi-state cannabis organizations interested in the manufacturing and distribution of Two Roots Brewing, Co.; the combination of which has allowed us to accelerate our national roll out," said Director of Product Development, Kevin Love of Cannabiniers.
This announcement coincides with Cannabiniers' Series B capital raise of their multistate rollout of Two Roots, which now includes a $50M raise supporting a twenty-state product release.
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Cannabiniers, located in San Diego, CA, is a beverage, technology & brand management company revolutionizing the cannabis industry with first to market, patented, safe, natural and fast acting infusion technology focusing on products that are healthy for the consumer and that positively impact the environment with products that will continue the mission of normalizing cannabis use.