Jones Soda Co. Sells Mary Jones THC Beverage Brand – Ganjapreneur | Where to order Skittles Moonrock online
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Wed / Jun 25th
Jones Soda has divested from the cannabis space after selling its hemp-based beverages brand Mary Jones for $3 million.
Full story after the jump.
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Seattle-based Jones Soda Co. has sold its hemp-based THC beverages brand Mary Jones to MJ Reg Disrupters for $3 million to âstreamline operations and focus on its core soda offerings,â according to a press release.
Jones Soda unveiled its cannabis segment in 2022, launching Mary Jones first in California and then expanding the brand to other states. The companyâs infused beverages contain hemp-derived delta-9 THC and cannabidiol (CBD).
MJ Reg Disrupters purchased Mary Jones with an initial June 19 cash payment of $489,399 plus an additional $2,510,610 via promissory notes over the next three years.
Jones Soda CEO Scott Harvey called the sale âan important milestone in our effort to focus our resources on areas where we see the strongest long-term growth and profitability.â
âWe are proud of the innovation behind the Mary Jones brand, but I believe this divestiture enables us to sharpen our strategic priorities and accelerate investment in our core soda, functional beverage, and adult beverage categories.â â Harvey, in a statement
âWe are excited about the opportunity to build on the Mary Jones legacy,â MJ Reg Director Joe Oblas said in the release. âJones Soda created a unique and high-quality product, and we are committed to continuing its innovation and reach.â
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