Canopy USA Eyes Beverages As Growth Engine Amid Shifting Cannabis Market

In a cannabis industry weighed by cooling dispensary sales and regulatory uncertainty, Canopy USA President Brooks Jorgensen sees a clear path forward – beverages.

“The biggest consumer trend shaping Canopy USA’s strategy today has to be Delta-9 beverage,” Jorgensen told IgniteIt in an interview. “While we still see opportunity in the dispensary sector, the markets are cooling in most cases. We are engaged in the beverage space just enough to be dangerous.”

Canopy USA, LLC is a U.S.-based holding company in which Canopy Growth (NASDAQ: CGC)(TSX: WEED) holds a non-participating, non-controlling interest. Canopy USA’s portfolio includes ownership of Acreage Holdings, Inc., Wana Wellness, LLC, The Cima Group, LLC, Mountain High Products and LLC, Lemurian, Inc.

The company already has distribution through Total Wine & More and regional distributors in Tennessee, Georgia, and New Jersey, positioning it for broader reach in 2026. Its Wana-branded beverages—including Lemonade, Strawberry Lemonade, and Sweet Tea—will soon be joined by a seltzer line in early 2026. For Jorgensen, this isn’t just product innovation; it’s a potential legislative catalyst. “It is my belief that the THC beverage sector will be the growth machine in the U.S. and should pave the way for favorable legislation at both the state and federal level,” he said.

Instead of chasing rapid growth, Jorgensen said Canopy USA is playing the long game. Formed as a parent company for Jetty, Wana, and Acreage, the business still focuses on integration, culture, and operational discipline.

“Each one of these companies has its own history, founders and culture, which makes integration tricky,” he explained. “Our goal is to consolidate, find synergies, and focus on the fundamentals of a well-run business before we expand our partnerships further.”

That cautious approach extends to the company’s ambitions related to mergers and acquisitions.

“Canopy USA (CUSA) is not an acquisition target—we hope to be an acquirer of high-value brands once we have achieved operational excellence,” Jorgensen said, adding that the right time will bring the right partners.

On the innovation front, hemp-derived beverages, premium flower, pre-rolls, and edibles will continue to be key categories driving growth, Jorgensen said. However, chasing every new trend is not always the way to go, he added.

“One challenge cannabis brands face, especially as cannabis science and innovation continue to advance so rapidly, is keeping their eyes on the prize,” he said. “For sustainable growth, brands need to commit to categories and competencies they can really own rather than trying to be all things to all people.”

The biggest opportunity for Jorgensen lies in business fundamentals.

“Take care of your teams and they will take care of you. Be profit-driven, control your spend and drive operational efficiency through M&A at the appropriate time,” Jorgensen emphasized. “This business is extremely difficult and going it alone is risky. If CUSA can prove itself as a strong and profitable operator, partnerships with other strong operators will present themselves.”