A “Hi Tide” is rolling back in.
Green Street Beverages, a portfolio company of infused food and beverage brands made with hemp-derived THC, has launched with four brands in Minnesota, including a new version of a previously introduced NA cocktail brand, Hi Tide. The company says it now has distribution in around 300 stores in Minnesota, as well as online direct-to-consumer, and plans to expand across the Midwest and South with a focus on adding states like Wisconsin, Georgia and the Carolinas in the near future.
The company was founded by seasoned beverage industry executives Shea Coakley, previously the founder of Grind Coffee and Back Bay Roasters, and Josh Grab, who has held sales roles including director of national accounts at Crook & Marker and Flow Alkaline Spring Water.
“Josh and I always knew that we had really grand aspirations in this space, that we loved the idea of owning a portfolio company and trying to build what could become the Diageo or Pernod Ricard of THC beverages,” Coakley said. “What we didn’t quite realize was how quickly the game was going to change in that particular sector.”
Coakley and Grab made their first foray in the cannabis beverage space with Hi Tide, which launched as a standalone brand for the dispensary channel in April 2023. Developed under a different corporate entity with the original name spelled “High Tide,” this rebranded relaunch keeps most of the core attributes of the old version, including its position as a medium-dose, canned margarita, but now uses hemp-derived THC.
The original High Tide was available in Massachusetts dispensaries for around half a year, but by early 2024 the founders decided to pivot to a more-readily scalable hemp-based format, recognizing that the market for legally available THC opened up by the 2018 Farm Bill provided a significantly larger opportunity for growth than the relatively small dispensary space.
The old company was closed and Coakley and Grab forged a joint venture with Vireo Health, a medical marijuana dispensary and cannabis products maker, to create Green Street Beverages as a portfolio company that could house multiple THC-infused brands.
“There’s not only a void of ownership, but I think from the perspective of distributors, retailers and investors there is an appetite for a team that can do this, really, the right way, and that’s what we want to do,” he said.
As the company begins opening up doors in Minnesota retailers, Green Street has four brands under its portfolio made with hemp-derived Delta-9 THC, including three beverages which all come in 12 oz. cans: Hi Tide, a full sugar soda called Hi Af and sparkling water line Boundary Waters, as well as gummy edibles product HiColor.
Each brand seeks to meet different use occasions and consumer preferences. Hi Tide is still positioned as a sessionable THC-infused cocktail available in Classic, Spicy and Watermelon Margarita flavors with 5 mg of THC per 12 oz. can. The drinks are available in retail in 4-packs for $29.99 and online in 12-packs for $69.99.
On Hi Tide, a rebrand was done in large part due to trademark concerns – Coakley and Grab said they ran into difficulties securing a trademark for the “properly” spelled phrase “High Tide” but found that the simplified “Hi Tide” was considered a more unique and more easily protected brand name.
Hi Af looks to be a more indulgent option for consumers with higher tolerance as a full sugar soda containing 10 mg of THC per can. That line is currently available in Cherry Limeade and Orange Lift flavors with Galactic Grape and Tiger’s Blood varieties launching next year. It can be bought online in 12-packs for $74.99.
Meanwhile, Boundary Waters is a lower-dose line containing 3 mg each of THC and CBD per can with zero sugar. The drink is available in a single lime-infused Sparkling Hop Water flavor with a lemon-infused Huckleberry Sparkling Water variety also scheduled for a 2025 launch. Each 12-pack is sold online at a lower price point of $59.99.
HiColor’s gummies come in three varieties: Sour Blueberry Nano THC, Alfonso Mango 1:1 THC and CBD and Blackberry Dream 1:1 THC and CBN. Each pack contains 10 gummies with a total of 100 mg of THC per package and retails for $19.99 each.
“We truly believe in the category,” Grab said. “We truly believe in the method of socialization and relaxation. We truly believe that a path forward for our society is reducing alcohol use and reducing the reliance on that and the reduction of harm…. We really want to be a part of the change in society.”