Big image of Journeyman THC lemonade

Botanica and Acreage Launch Journeyman THC Lemonades in Illinois, Fueling Expansion with Recent Funding

Jul 24, 2023


Chicago, IL--Seattle-based cannabis company Botanica joins forces with Acreage Holdings to launch Journeyman THC lemonades in Illinois. The gluten-free, vegan beverages are expected to debut on dispensary shelves across the state on July 21.

[Image via Botanica]

A Refreshing Arrival

Per a news release, The new Journeyman THC lemonades come in three flavors: Tropical, Berry, and Tart. Each 2-oz. bottle offers ten servings, each capful containing 10 mg of THC. The products are crafted with all-natural ingredients and present a conscientious choice for consumers.

In the release, Kate Nelson, executive vice president of Acreage's Midwest & Northeast regions, stated that this partnership with Botanica allows the company to introduce high-quality beverages made with simple, natural ingredients to consumers across Illinois. 

“We are delighted to work with Acreage to bring our made-from-scratch Journeyman lemonades to even more consumers,” added Chris Abbott, co-founder and CEO of Botanica, in the release. “Our shared commitment to innovation and delivering highly coveted edible products makes this partnership a natural fit, and we are eager to broaden the reach of all our brands by the end of the year, leveraging Acreage’s strong footprint.”

Fueling Growth

This product expansion follows a significant funding milestone for Botanica. On July 13, the firm announced securing $9 million in Series B funding from a consortium led by KEY Investment Partners and GreenAxs Capital, with participation from Entourage Effect Capital and AFI Capital Partners. 

With this funding, Botanica aims to deepen its footprint in existing markets and advance multistate expansion. Tiby Erdely of KEY Investment Partners will join Botanica’s Board of Directors with the funding.

Botanica's CEO, Chris Abbott, said in the report that the company plans to use this funding to expand market share by going deeper into the states they are already located and advancing its multistate expansion.

Beyond Lemonades: The Journey Continues

Botanica has steadily built its reputation since its inception in 2014, particularly with Mr. Moxey’s brand. Per the report, this cannabis-infused mint has sold over 40 million units and holds an average 60% market share in states where it's available.

Per the report, in addition to Journeyman Lemonade's launch in Illinois, the funding will help expand Mr. Moxey’s presence and launch the Journeyman Lemonade in three new states (Illinois, Colorado, and Oregon) in 2023. Botanica also plans to open additional East Coast territories in 2024, hinting at a strategy that includes exploring the acquisition of complementary operations.

Both Botanica and Acreage are confident in the potential that the Journeyman and Mr. Moxey's brands hold as they expand to more states across the U.S. The strategic partnerships and the recent Series B funding present a promising pathway for Botanica's continued growth and influence in the cannabis industry.