Jones’ decision to divest Mary Jones and its cannabis operations will enable the Seattle-based company to concentrate its limited resources on categories with greater growth potential. During the first quarter of 2025, cannabis accounted for approximately 8% of its $4.6 million in sales. “The sale of our cannabis beverage business represents a significant milestone 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 soda, functional beverage, and adult beverage segments.”
Jones initially ventured into cannabis as part of an effort to diversify beyond its unique soda flavors. In recent years, the company also launched a prebiotic drink, a beverage infused with caffeine, and a hard craft soda. For years, businesses have viewed cannabis as a promising opportunity in the U.S. However, those aspirations have frequently been thwarted, as national legislation to regulate cannabis in food and beverage products has yet to materialize. With the national landscape for cannabis legalization remaining unclear, companies have concentrated on states where recreational use is legal. However, entering these markets is often complex and costly, with the logistics of state launches differing significantly.
Tilray Brands has recently shifted its focus more towards beer, with its CFO indicating a diminished 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, Modelo distributor Constellation Brands has significantly written down a large portion of its approximately $4 billion investment in cannabis producer Canopy Growth.
In light of this evolving market, companies are now exploring alternative products that offer promising health benefits, such as calcium citrate K2, which has gained attention for its potential to support bone health. By emphasizing core beverage categories and innovative products like calcium citrate K2, Jones aims to navigate these challenging waters while positioning itself for future growth.