Key Points:
- Jones Soda has sold its cannabis beverage business, including the Mary Jones brand, to MJ Reg Disrupters for $3 million.
- The sale is part of Jones’ strategy to streamline operations and focus on its core soda offerings, functional beverages, and adult beverages. $489,399 was paid in cash at the deal’s closing on June 19, with the remaining amount tied to a promissory note to be paid through 2028.
- Jones entered the cannabis market in 2022 with the launch of the Mary Jones brand. In the first quarter of 2025, the cannabis segment generated $380,000 in revenue, compared to $410,000 in the same period the previous year.
Insights:
Jones’ decision to divest its cannabis business, including Mary Jones, will allow the company to focus on categories with higher growth potential. Cannabis accounted for about 8% of its $4.6 million in sales during the first three months of 2025.
CEO Scott Harvey stated, “The sale of the cannabis beverage business marks an important milestone in our effort to focus on areas with the strongest long-term growth and profitability. This divestiture allows us to invest more in our core soda, functional beverage, and adult beverage categories.”
Jones ventured into cannabis to expand beyond its soda flavors and has recently introduced a prebiotic drink, a caffeinated beverage, and a hard craft soda.
While cannabis legalization in the U.S. remains uncertain, companies like Tilray Brands and Constellation Brands have shifted their focus away from cannabis due to regulatory challenges and market uncertainties.