Tinley Beverage Company (TNY.C) announced yesterday that it will be working with Pabst Labs to manufacture cannabis-infused Not Your Father’s root beer at Tinley’s Long Beach facility in California.
“Pabst Labs has emerged as a forward-thinking beverage leader, extending strong mainstream brands into the growing cannabis beverage category…These quality brands offer new options to consumers who are increasingly choosing cannabis,” said Rick Gillis, president, Western United States, Tinley.
With summer right around the corner, who wouldn’t want to crack open an ice-cold cannabis-infused beverage? Pabst Lab’s Not Your Father’s root beer is the company’s hard root beer brand distribute nationally by Pabst Brewing Co., which quickly became one of the United States’ top-selling craft beers in 2015. With this in mind, Pabst Labs will be collaborating with Tinley to create a cannabis-infused, non-alcoholic version of the product. The cannabis-infused version of Not Your Father’s root beer will contain a 10mg dose of THC in each 12oz. bottle and will be available at cannabis dispensaries throughout California.
“Introducing Not Your Father’s root beer to cannabis consumers in California is a welcome expansion of our growing family of brands. Its smooth and balanced flavour has broad appeal, from discerning craft drinkers to cannabis consumers. NYF provides a unique and flavourful offering for those who prefer beverages as their primary method of cannabis consumption. Our team at Pabst Labs has always prioritized taste and experience in our beverages and are proud to offer our Not Your Father’s 10-milligram root beer as a fast-acting, social and hangover-free experience,” states Not Your Father’s brand manager Mark Faicol.
In addition to manufacturing Not Your Father’s root beer, Tinley will also be assisting Pabst Labs in launching additional products from the company’s portfolio. With Tinley’s extensive experience producing cannabis-infused beverages, Pabst Labs is now capable of strengthening its position in the cannabis beverages market, which is expected to grow at a compound annual growth rate of 17.8%. Moreover, there is an increasing demand for wellness drinks that contain less sugar and calories. With this in mind, Pabst Labs currently offers a cannabis-infused Seltzer which offers consumers a lighter buzz at 5mg of THC and 25 calories per can.
The production of a cannabis-infused version of Not Your Father’s root beer is sure to generate profitability for both Pabst Labs and Tinley. Furthermore, with additional products on the horizon, both companies can expect to see growth in the long run.
Tinley’s share price saw notable change following yesterdays news, jumping from $0.345 on April 30, 2021, to a high of $0.40 on May 3, 2021. Tinley’s share price opened at $0.41 today and is currently trading at $0.40.
