Last week, we revealed that the state of California is banking twice as much in tax revenues from legal cannabis as from all forms of alcohol. This week brings the announcement that Vintage Wine Estates is to launch a new division called NexDrinx. Among the products it will sell will be alcohol-removed, hemp CBD-infused cider products and a ‘hemp CBD and adaptogen-infused’ drink called Gem + Jane.’
These products will be interesting partners to Vintage Wine Estates’ portfolio of wine brands which includes names such as Clos Pegase, Cosentino, Firesteed, Qupe, Girard and Swanson.
It is also revealing that Tracey Mason, CEO of NexDrinx was described by Shanken as a ‘beverage alcohol and cannabis industry veteran’. Before taking up her new role, she worked at Clos du Val and Treasury Wine Estates as well as cannabis-focused House of Saka and CannaCraft.
Vintage Wine Estates founder and CEO Pat Roney was quoted by Shanken as saying that “We believe alternative beverages share many synergies with wine, and developing a product category adjacent to our wine business presents an opportunity for further growth with diversification.”