Markets

Coca-Cola to get into the cannabis business? ‘The space is evolving quickly’

Coca-Cola to get into the cannabis business? ‘The space is evolving quickly’

Coca-Cola said Monday it is studying the use of a key ingredient in marijuana in "wellness beverages", as a growing number of mainstream companies develop cannabis-infused drinks.

"We are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world", Landers said.

"No decisions have been made at this time", the beverage group said, adding that it would not comment on further speculation.

Earlier this year, alcohol producer Molson Coors Brewing Co said it will make cannabis-infused drinks with Hydropothecary Corp, while Corona beer maker Constellation Brands invested $4-billion more into marijuana producer Canopy Growth. The investment follows a deal previous year in which Constellation acquired a almost 10 per cent stake in Canopy and the two companies agreed to collaborate on the development of cannabis-based drinks.

It seems like all the cool kids are doing it, but many were surprised to see that the world's largest beverage company is considering dipping its toes into the cannabis market. Cannabidiol or CBD is one of hundreds of molecules found in marijuana plants, and contains less than 0.1 percent of tetrahydrocannabinol (THC), the psychoactive component that makes people high.

The real bandit, Burt Reynolds, dead at 82
During the peak of his success, he had money, mansions, and wives - including the famous Loni Anderson, whom he divorced in 1993. He shot to fame in the 1972 film, Deliverance , and starred in Smokey and the Bandit , Boogie Nights and The Cannonball Run .


However, following the news, the Coca-Cola Company released a statement of their own, stating that, as of now, they were only exploring their options.

CBD, which does not produce a high for the user, has been used for medical purposes, including easing inflammation, pain and nausea.

Diageo PLC, maker of Guinness beer, is holding discussions with at least three Canadian cannabis producers about a possible deal, BNN Bloomberg reported last month. Coca-Cola shares were marginally higher in a USA market struggling against expectations of another round of Chinese trade tariffs.

In a clarification, Coca-Cola stated on Monday, "We have no interest in marijuana or cannabis". That's according to a report today from Bloomberg's BNN, which cited multiple sources familiar with the matter.


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