Organigram has acquired Collective Project, a cannabis and hemp-derived THC beverage company, in a deal valued at up to nearly $17 million.
“The acquisition of Collective Project marks yet another strategic milestone towards Organigram’s global leadership ambitions. Not only does this acquisition represent our first commercial entry into the fast-growing hemp-derived THC beverage market in the U.S., it also fast tracks our entry into the cannabis beverage category in Canada, a category that we believe is on the cusp of growth at home as well,” said Beena Goldenberg, CEO of Organigram.
Collective Project products are available in both Canada and the U.S. and feature a lineup of beverages made with real fruit juice and no artificial sweeteners.
In the U.S., Collective Project products launched in late 2024 and are currently available for sale in Minnesota, Ohio, North Carolina, South Carolina, Florida, Texas, Indiana, Tennessee, Georgia and Kentucky, including in key retailers such as Total Wines and Top 10 Liquors. By the end of the year, it is expected that products will also be distributed in Connecticut, New Jersey, Illinois, and Alabama. In Canada, the products are currently available in Ontario, British Columbia, Saskatchewan, Newfoundland and Nova Scotia with distribution in additional provinces to follow in the coming months.
