Denver-based Dixie Brands, a longtime manufacturer of marijuana-infused products, reached a licensing deal with Arizona Beverage Co., the firm behind Arizona Iced Tea.
Arizona Beverage Co., based in Woodbury, New York, is entering the marijuana-infused beverage and edibles market in the United States and Canada in an effort to make up for lost ground in the traditional drinks sector, The Wall Street Journal reported.
- Dixie will manufacture marijuana-infused products and distribute them through state-legal cannabis retailers.
- Arizona Beverage can purchase an ownership stake in Dixie for up to $10 million.
- Dixie’s board must sign off on the arrangement.
More details about the deal can be found here.