Coca-Cola is eyeing the cannabis market | PostIndependent.com | PostIndependent.com
YOUR AD HERE »

Coca-Cola is eyeing the cannabis market

The Denver Post via The Washington Post

The world’s largest beverage company may be the next industry giant to jump into the cannabis drinks business.

Coca-Cola Co. says it’s monitoring the nascent industry and is interested in drinks infused with CBD — the non-psychoactive ingredient in marijuana that treats pain but doesn’t get you high. The Atlanta-based soft drinks maker is in talks with Canadian marijuana producer Aurora Cannabis Inc. to develop the beverages, according to a report from BNN Bloomberg Television.

“We are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world,” Coca-Cola spokesman Kent Landers said in an emailed statement to Bloomberg News. “The space is evolving quickly. No decisions have been made at this time.” Landers declined to comment on Aurora.

Pot stocks Tilray Inc., Cronos Group and Canopy Growth gained in pre-market trading Monday in response to Coca-Cola’s interest. Tilray jumped 6.8 percent, adding to its 40 percent gain last week; Cronos rose 3.1 percent and Canopy’s U.S. shares climbed 2.9 percent.

Coke’s possible foray into the marijuana sector comes as beverage makers are trying to add cannabis as a trendy ingredient while their traditional businesses slow. Last month, Corona beer brewer Constellation Brands Inc. announced it will spend $3.8 billion to increase its stake in Canopy Growth Corp., the Canadian marijuana producer with a value that exceeds C$13 billion ($10 billion).

Read the full story via The Denver Post.


Support Local Journalism

Readers around Glenwood Springs and Garfield County make the Post Independent’s work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Each donation will be used exclusively for the development and creation of increased news coverage.

For tax deductible donations, click here.
 


Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User



Business


See more