TORONTO, Oct. 4, 2018 /CNW/ – Molson Coors Canada (MCC), the Canadian business unit of Molson Coors Brewing Company (NYSE: TAP; TSX: TPX), and HEXO Corp. (TSX: HEXO) today announced that they have closed the transaction announced on August 1, 2018, to form a joint venture to pursue opportunities to develop non-alcoholic, cannabis-infused beverages for the Canadian market following legalization.
The joint venture, Truss, will be led by former Molson Coors executive, Brett Vye, in the role of Chief Executive Officer. Vye will report to the Truss board of directors consisting of three members appointed by MCC and two members appointed by HEXO.
“With the backing of two partners with deep Canadian roots, proven success, and market-leading experience in the respective beverage and cannabis industries in Canada, Truss will hit the ground running,” said Brett Vye, Chief Executive Officer at Truss. “When consumable cannabis is legalized in Canada, Truss will be ready to make its mark as a responsible leader in providing high-quality beverages for the Canadian consumer. Why “Truss”? We are joining together the extensive experience and excellent practices of each partner to build a powerful foundation for the future.”
Vye brings a decade of experience in leading successful brand building and integration efforts, as well as executing long-term growth strategies. Vye served as the Chief Commercial and Strategy Officer for the fast-growing International division of Molson Coors from 2015 to September 2018. Previously, he served as Chief Commercial Officer of Global License and as Managing Director of IOP Sales at Molson Coors. Vye has also worked in a number of commercial roles internationally for Colgate Palmolive/Hills Pet Nutrition.