The National Expansion of Two Roots Brewing, Co. Continues with Roll-Out across California
SAN DIEGO, Calif. (February 5, 2019) – 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 the expansion of its line of non-alcoholic cannabinoid infused craft “Cannabier,” Two Roots Brewing Co, to California. Two Roots will be offered in both THC-infused and full spectrum CBD-infused options and will be available for purchase in select dispensaries throughout California, including San Diego, Los Angeles, and San Francisco.
U.S. legal cannabis peaked at an impressive $10.4 billion industry at the close of 2018, and with an increasing number of states legalizing cannabis for recreational use, that figure is expected to swell to more than $23 billion by 2022. As California’s cannabis marketplace continues to grow after an estimated $2.5 billion in sales in 2018, Cannabiniers’ move to the state is a major step in the company’s plans for national expansion and the rapidly growing cannabis-infused beverage industry.
“We’ve seen a tremendously positive response to Two Roots Brewing since its initial debut in Nevada,” said Timothy Walters, President and Chief Operating Officer of Cannabiniers. “As more states legalize recreational cannabis, users will continue to seek new, more sociable ways to consume, and companies will increasingly look to adapt to this new wave of consumption. We are thrilled to bring Two Roots to residents throughout California, offering a more enjoyable and socially integrated way to consume cannabis.”
This expansion coincides with the company’s recent execution of its first strategic brewing agreement supporting up to 50,000 annual beer barrels, forecasting Two Roots Brewing sales to reach 500,000 bbls annually by mid to late 2020. “One of the primary drivers to support expanding our brewery operations was due to insights gathered on the sell-through rates in the Nevada market,” said Kevin Love, Vice President of Market Activations for Cannabiniers. “Our initial forecasted run rate to support the entire Nevada market was 2,000 bbls a year. What we found was that we were hitting those annualized volumes in 10 stores alone. With this heightened sell-through rate, several stores are reporting that Two Roots represents 10% of their total SKUs sold. Since October, we have executed LOI’s to acquire 3 breweries in the greater San Diego area, which represents 200,000 bbls of capacity and expect to add 2-3 breweries under LOI before the end of Q1 supporting an additional 200,000 – 300,000 bbls annually; allowing us to reach our national target of 500,000 bbls annually ahead of plan.”
The company also recently welcomed its newest board member Michael Lorelli, former President of PepsiCo-East, who brings his decades-long experience focused on building brands and managing public and private boards to enhance leadership and brand strength throughout this expansion.
About Two Roots Brewing Co.
At Two Roots Brewing Co, we’ve combined a passion for all things science, innovation, and social responsibility to create a new class of adult beverages poised to change the cannabis and beer markets. To pioneer this artisan fusion, Two Roots has sourced expert brewers and artisans as well as the first of its kind manufacturing and design technology to enter the United States. Through this union, consumers are given a responsibly formulated beverage that inspires positive shifts in perceptions of cannabis for both medical and adult-use users. 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.
Cannabiniers is a beverage, technology, and brand management company revolutionizing the cannabis industry with first to market, patented, safe, natural and fast acting infusion technology. The company focuses on products that offer healthier consumption and that positively impact the environment with a product portfolio directed at normalizing cannabis use.