1933 Industries’ (TGIF.C) penned a two-year licensing agreement between their subsidiary Alternative Medicine Association (AMA) and Los Angeles-based The Pantry Company to produce edible products in Nevada.
Pantry brings their award-winning chefs, cannabis-infused food created with all natural ingredients, without preservatives and artificial flavours, adding another vertical to 1933’s growing empire.
“1933 Industries is at the forefront of the wellness movement and we have been impressed by the pedigree of brands that the Company has attracted to its portfolio. We believe that their success lies in their clear commitment to the highest standards of safety, quality and innovation,” said Paul Rosen, chairman of Pantry.
Pantry is the result of a collaboration between the full-service cannabis-industry-centric creative agency Green Street, and Paul Rosen, a cannabis pioneer connected to some of the most iconic companies in operation. Pantry was built to fill a hole in the cannabis-infused edible market. Rosen and Green Street believed that the marketplace was underserved and lacked great tasting products with quality ingredients.
“Products that are available on the market are too often packed with processed sugar, preservatives, and artificial flavors. We saw an opportunity to create actual delicious food, lightly-infused with cannabis and made with premium all-natural ingredients,” said Rosen.
1933 Industries will begin building a GMP-approved commercial kitchen attached to their Las Vegas, Nevada, extraction facility, and hopes to start rolling out Pantry’s products mid-2020.
Here are some of the proposed products:
- Cannabis Infused Peach Pate de Fruit. Real fruit puree in gummy form. Pate de Fruit, originating in France, is made completely without preservatives and artificial flavors and is naturally vegan and gluten and dairy-free.
- Cannabis Infused Frankies 457 Olive Oil Ganache Bonbon. Rich fine dark chocolate ganache mixed with Frankies 457 Extra Virgin Olive Oil (made from Sicilian olives grown in Nocellara del Belice) covered in a chocolate shell.
- Cannabis Infused Gianduja Ganache Bonbon. Traditional Italian chocolate flavored with hazelnut and mixed with feuilletine flakes to create a delicate crunch, then encased in a fine dark chocolate shell.
- Cannabis Infused Tiramisu Ganache Bonbon. Silky white chocolate ganache flavored with espresso made from 100% Arabica beans and mascarpone, enrobed in a chocolate shell.
- Cannabis Infused Cacao Keto Bites. Bite-sized keto friendly chocolates made with real cocoa butter, cacao powder and lightly sweetened with coconut sugar. Naturally vegan, gluten and dairy-free, and low-glycemic.
A report from ArcView market research indicates that edibles are projected to grow from 12% to 14% of the total cannabis market by 2022, while flower is predicted to drop from 50% to 36%. Right now, the report continues, edibles’ share of the total cannabis market has already more than doubled, from 5.4% in 2011 to the current 12%.
“Legal cannabis-derived edible products, from candy and chocolate to infused beverages, is a sector worth watching over the next few years. It has become clear that the legal cannabis market is about much more than inhaling the smoke of smoldering cannabis flower,” the report said
1933 Industries was presently trading at $0.215 at the time of writing with a market cap of $57.8 million.
—Joseph Morton
Full disclosure: 1933 Industries is an equity.guru marketing client.
