A seafood food truck is opening its first brick-and-mortar location in Fern Creek by Christmas.
Lameshia Cunningham, the owner of Sweet & Juicy Seafood food truck, plans to open the restaurant at 8402 Hudson Lane as soon as inspections are passed.
“It’s perfect timing because my food truck just closed for the season,” Cunningham said. “People don’t really want to be out in the cold waiting for food.”
The 1,600-square-foot restaurant has 52 seats and two main seating areas. Cunningham said all he really needed was some paint to be ready to open. She anticipates the restaurant to be a “casual setting with good food, nothing fancy.”
Sweet & Juicy Seafood mainly serves Cajun-style seafood boils, including shrimp boils, crab boils, seafood platters and fried seafood dishes. There are three signature sauces: sweet Cajun, Cajun garlic and spicy, and guests can add corn, potatoes, sausages, shrimp or lobster to boil as they wish. In the restaurant, Cunningham will be adding on chicken boils, a burger or two, wings, and a seafood stuffed potato. Menu items range between $4 for appetizers to $50 for full platters.
“I wasn’t even in the food industry originally,” Cunningham said. “I worked for Jefferson County Public Schools and I had a salon. Me and my partner travel and try different seafood and I come back and make my own variations. One day after I posted a dish on Facebook, my son’s barber asked if he could buy some. And then it became lots of people who wanted to order. It took off from there.”
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Cunningham expanded from home orders to the food truck in 2019. Now the restaurant will offer more space and time to do what she loves. The food truck will remain in operation for special events.
“I love cooking. It doesn’t even feel like a job to me,” she said. “The fact people are paying me for it is kind of crazy.”
Sweet & Juicy Seafood will be open Wednesday, Thursday, and Friday from 11:30 am to 7 pm and on weekends from 11:30 am to 9 pm
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Big cannabis companies like Tilray and Canopy Growth are expanding into beverages.
The moves come as they lose market share in Canada’s competitive industry for recreational cannabis.
These companies are trying to figure out how to give their revenue — and stock prices — a boost.
It’s hard to make money in cannabis, so the world’s largest cannabis companies are pivoting.
They’re slowly but surely getting into beer and sports drinks, too.
The Canadian cannabis company Tilray in early November acquired Montauk Brewing Company, a New York craft-beer brewer. Tilray already owned SweetWater Brewing Company, an Atlanta-based craft brewer, and Breckenridge Distillery, a Colorado whiskey brand.
Tilray’s competitor Canopy Growth, one of the world’s largest cannabis companies, is the majority owner of BioSteel, a sports-beverage brand that has sponsorship deals with professional sports teams such as the Toronto Raptors and the Dallas Mavericks as well as high-profile athletes including Kansas City Chief quarterback Patrick Mahomes.
And both companies are led by executives with experience running traditional consumer-packaged goods and beverage companies. Tilray CEO Irwin Simon used to run Hain Celestial Group, a food and supplements company. Canopy Growth counts the Corona beermaker Constellation Brands among its largest investors and is run by David Klein, the alcohol giant’s former CFO.
‘Trying to be something different’
“I’m trying to be something different,” Simon said in an interview. “I’m trying to create the next generation of a cannabis, beer and spirits company that no one else is doing out there.”
He says that while the market might think of Tilray as just a “cluster of businesses,” his goal is to build intelligently around Tilray’s brands — like Diageo or AB InBev, but with pot.
Tilray CEO Irwin Simon.
Courtesy of Aphria
Both companies have lost market share in Canada’s competitive legal market, according to analysts at Cantor Fitzgerald, and recreational cannabis is a shrinking chunk of their overall revenue. The bright spots, analysts say, appear to be their non-cannabis businesses.
After Canopy reported its financial results on November 9, analysts mostly addressed the company’s beverage business and highlighted the company’s continued challenges in making money selling pots.
Canopy’s core cannabis business saw revenue tumble 27% compared with the same quarter last year, while BioSteel revenue nearly quadrupled, according to the company’s filings. Canopy brought in 52.3 million Canadian dollars, or about $39.1 million, from its core Canadian cannabis business, and another CA$10.6 million from its international cannabis business, while BioSteel brought in about CA$30 million.
In a November 11 note, analysts at the investment bank Jefferies called Canopy’s core Canadian cannabis business “a sideshow.” Cowen analyst Vivien Azer said the company’s revenue beat was “driven almost entirely by BioSteel.” Analysts from Stifel continued their “Sell” rating on the stock while touting BioSteel as one of the few successful units at the company.
Canopy, for its part, announced a complex plan in October to plow into the more lucrative US cannabis market, through options it has to purchase three US cannabis companies and report their results on its balance sheet — which would surely give its cannabis revenue a boost . But Nasdaq, where Canopy is listed, objects to parts of the plan, so its fate is unclear.
“While we remain focused on our core cannabis business, our high growth CPG strategy anchored by BioSteel is showing impressive performance as the brand consistently achieves record quarter-over-quarter revenues and continues its rise to the top of the sports hydration category,” a Canopy Growth representative, Jennifer White, told Insider in an emailed statement.
She added that cannabis remained a core component of Canopy’s business and that the company’s mergers-and-acquisitions strategy would be focused on building out Canopy’s capacity in the US cannabis market.
Klein, the Canopy CEO, previously told Insider he’s focused on the US and wanted to be “on the fast-track” to enter the US cannabis market when he’s able to do so.
Tilray’s cannabis business slumps, while beer booms
Like Canopy, Tilray’s core cannabis business is also declining while its beverage unit and other businesses are growing.
Tilray’s cannabis revenue declined 17% in the quarter that ended August 31, compared with the same period last year, while its alcoholic beverage business saw revenue climb 34%.
In January, Tilray changed its corporate name to Tilray Brands to reflect the company’s “evolution from a Canadian LP to a global consumer packaged goods company powerhouse,” the company said in a press release.
To be sure, Tilray’s beverage business still accounts for only a small fraction of its total business. In the most recent quarter, it accounted for 13% of revenue, up from 9% a year earlier. The company’s cannabis business, on the other hand, accounted for 38% of revenue, down from 42%.
Tilray has been expanding its international medical cannabis businesses as well and owns Manitoba Harvest
