Published: Thu, September 20, 2018
Finance | By Loren Pratt

Coca-Cola is eyeing the cannabis market

Coca-Cola is eyeing the cannabis market

However, in a statement on Monday Coke said they are "closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages".

In Canada, a company known as Molson Coors Brewing Co. partnered with a cannabis maker- Quebec's Hexo's manufacture cannabis drinks.

TERRY BOOTHEven though he's staying mum on the topic for now, Aurora Cannabis' (Quote, Chart TSX:ACB) Terry Booth says that a deal with Coca-Cola would be great not just for his pot company but for the marijuana space in general as it would help legitimize cannabis as a global enterprise. Coke added that despite their interest in the infused-drink market, "The space is evolving quickly".

A Coke spokesman said the beverage giant has made no such decision.

Marijuana will become legal across all of Canada on October 17, and cannabis companies have flocked to that country recently to raise money and start businesses there, according to the Associated Press.

The reality of mixing beverages with pot: Many soda and beer makers are seeing their sales decline amid changing consumer habits, making cannabis both a threat and an opportunity for their businesses. At this time the Company confirms there is no agreement, understanding or arrangement with respect to any partnership with a beverage company.

"It was only a matter of time before the major beverage companies came in, not only from the alcohol but the Coca-Cola, Pepsi Cola side of the fence", Booth told BNN Bloomberg Monday.

Meanwhile, Coca-Cola is not the only drink manufacturer looking at taking advantage of the therapeutic components of marijuana while also keeping in touch with trends.

But testing the waters of cannabis-themed drinks could backfire, he said.

"I think you have to be very, very careful with this as a large brand". "You don't want to be too far ahead on any curve".

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