Caliva, a California, US-based cannabis company, has bought soft drinks firm Zola in a bid to expand into CBD-infused beverages, according to FoodBev and BevNet reports.
Zola, which focuses on “plant-based hydration”, markets a range of soft drinks including coconut water, acai juice, and natural energy drinks. Caliva said the deal would allow it to broaden its cannabis business into the beverage space through access to Zola’s research and development team and retail distribution network.
Once the deal is completed, Zola CEO Chris Cuvelier is set to oversee and execute beverage initiatives at Caliva.
Speaking to BevNet, Mr Cuvelier said: “We believe hemp-based CBD is the ultimate plant-based ingredient and that beverages offer a unique way to deliver the many health and wellness benefits of CBD. I am excited to leverage Caliva’s expertise, consumer insights and technology to create a portfolio of delicious and functional hemp-based CBD beverages”.
Caliva CEO Dennis O’Malley added: “Consumers are looking for trusted CBD solutions in their beverages. We couldn’t be more excited to team up with Zola and Chris to bring Caliva CBD beverages to a supermarket near you”.
Source: BevNet / FoodBev