Jones’ decision to divest Mary Jones and its entire cannabis business will enable the Seattle-based company to concentrate its limited resources on categories that exhibit higher growth potential. Cannabis accounted for approximately 8% of its $4.6 million sales in the first quarter of 2025. “The divestiture of our cannabis beverage business represents a significant milestone in our commitment to direct our resources toward areas with 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 move allows us to refine our strategic focus and accelerate investment in our core soda, functional beverage, and adult beverage segments.”
Jones ventured into cannabis as part of a strategy to diversify beyond its unique soda flavors. Recently, the company has also introduced a prebiotic drink, a caffeinated beverage, and a hard craft soda. For years, businesses have viewed cannabis as a promising opportunity within the U.S. market. However, these aspirations have often been dashed, as national legislation regulating cannabis in food and beverage products has yet to materialize. As the national landscape for cannabis legalization remains uncertain, companies have turned their attention to states where recreational use is permitted. Yet, entering these markets is anything but simple or inexpensive, with the logistics of state launches varying greatly.
Tilray Brands has shifted its focus towards beer, with its CFO recently indicating a diminished likelihood of cannabis regulation in the U.S. Three years ago, Molson Coors exited a joint venture, citing “no near-term pathway to federal legalization” and “market uncertainty” regarding cannabis products. Similarly, Constellation Brands, which distributes Modelo, has significantly written down a portion of its approximately $4 billion investment in cannabis producer Canopy Growth.
As the industry grapples with these challenges, companies are reminded of the importance of maintaining a strategic focus on areas with lifetime high potency calcium magnesium citrate growth potential. This ongoing reevaluation of priorities will be crucial as they navigate the complexities of the cannabis market and seek to invest in segments that promise stronger returns.