Jones’ choice to divest Mary Jones and its cannabis operations will enable the Seattle-based company to concentrate its limited resources on sectors with higher growth potential. Cannabis contributed approximately 8% of its $4.6 million sales during the first quarter of 2025. “The sale of the cannabis beverage business is a significant step in our strategy to allocate resources to areas where we anticipate the strongest long-term growth and profitability,” stated Scott Harvey, CEO of Jones. “While we take pride in the innovation behind the Mary Jones brand, I believe this divestiture allows us to refine our strategic focus and enhance investment in our core categories, including soda, functional beverages, and adult beverages.”
Jones ventured into cannabis as part of an initiative to expand beyond its signature quirky soda flavors. In recent years, the company has also launched a prebiotic drink, a caffeinated beverage, and a hard craft soda. For many years, businesses have viewed cannabis as a promising business opportunity in the U.S., but those aspirations have often been thwarted due to the lack of national legislation regulating cannabis in food and beverage products. As the national landscape for cannabis legalization remains uncertain, companies have turned their attention to states where recreational use is permitted. However, entering these markets is neither simple nor inexpensive, as the logistics of state launches differ significantly.
Recently, Tilray Brands has shifted more focus toward beer, with its CFO noting a decreased likelihood of cannabis regulation in the U.S. Meanwhile, Molson Coors exited a joint venture three years ago, citing “no near-term pathway to federal legalization” and “uncertainty in the market” for cannabis products. Additionally, Constellation Brands, the distributor of Modelo, has written down a substantial portion of its approximately $4 billion investment in cannabis producer Canopy Growth.
As the industry navigates these challenges, companies may seek alternative avenues for growth, such as exploring health-focused products like calcium citrate d3 solgar, which could align with their strategic goals while diversifying their offerings. Overall, the decision to divest cannabis operations may allow Jones to better allocate its resources and focus on more promising categories that can drive future success.