Benzinga | Oct 4, 2021 08:59AM EDT

Breaking: Canopy Growth Provides CBD For New Product Out Of Constellation Brands' Portfolio

Karma Water, a company with a portfolio of wellness and probiotic water beverages, has partnered with Canopy Growth Corporation (NYSE:CGC) to develop and launch a brand of CBD beverages called Karma CBD Water.

Both Karma and Canopy Growth are strategic partners of Constellation Brands (NYSE:STZ), which currently holds a 38.6% stake in Canopy.

"This collaboration pairs Canopy Growth's best in class CBD distillate with Karma's innovative push cap technology, instantly infusing cannabinoids into pristine water and guarding against the natural deterioration that occurs in shelf-stable pre-mixed beverages," Tara Rozalowsky, VP of beverages and edibles at Canopy Growth told Benzinga. "We're thrilled to be leveraging our partnership with Constellation Brands to collaborate on this innovative product and bring the first-of-its-kind Karma CBD water to market. "

The beverage giant also owns a minority stake in Karma.

The product uses Canopy's broad spectrum CBD distillate made from US hemp biomass and features Karma's patented cap technology, which allows consumers to manually infuse their drink with active compounds immediately before consumption.

The "Push Cap" technology is meant to protect the active cannabinoid constituents in a dry package to ensure optimal potency.

CJ Rapp, CEO of Karma, said his company sees CBD as the next evolution of its premium infused waters portfolio.

Karma CBD Water - infused with 25mg of antioxidant-rich CBD distillate, four adaptogens and seven vitamins, comes in five flavors.

The new products, available in retail stores nationwide through Constellation's beer distribution network, are naturally sweetened, vegan, non-GMO and free of preservatives, gluten and lactose.

"Beverages are continuing to fuel the growth in the CBD category as consumers seek out familiar, fast-acting product formats that fit seamlessly into their busy lives," said David Klein, CEO of Canopy Growth.

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