Cannabis Company Caliva Acquires Beverage Maker Zola [Forbes]
Constellation Brands, Inc. (STZ)
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Source: Forbes
Cannabis Company Caliva Acquires Beverage Maker Zola Seeds and hemp oil. Getty San Jose, California -- Vertically integrated California-based cannabis company, Caliva announced its intentions today to acquire Zola, t he maker of plant-powered beverages, to expand into the cannabis and hemp-based CBD (hCBD) beverage market. Why it matters The acquisition gives Caliva distribution access to major retailers and positions the company to capitalize on a nationwide roll out of infused beverages. Zola will keep its brand identity and Caliva gains Zola's distribution network for their own product releases down the pike. An ironic aspect of the acquisition is that it illustrates the first time a cannabis company is acquiring a mainstream beverage company rather than vice versa, such as Constellation Brands acquiring Canopy Growth. Caliva, an established retailer of consumer cannabis products in California, boasts former Yahoo CEO Carol Bartz as chairman of the Board and retired NFL superstar
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