The CEO of Molson Coors is bullish on cannabis-infused beverages
The CEO of Molson Coors is bullish on cannabis-infused beverages. Speaking on Wednesday during the company’s third-quarter earnings call, CEO Mark Hunter said the cannabis market could total $7 billion to $10 billion in Canada alone. Nonalcoholic cannabis-infused beverages could account for as much as $3 billion, or 30% of the total market.
“We decided as a business that we did not want to be a spectator as this new market opened up,” Hunter said. “And we clearly wanted to be a participant.” A specialized growth-oriented team at Molson has been “chasing down an opportunity in cannabis,” he added. In August, Molson Coors entered into a joint venture with HEXO, a Quebec-based marijuana cultivator, to produce cannabis-infused beverages for the Canadian market.
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