It’s the newest green rush
When Coca-Cola publicly announces it is sizing up business opportunities in an industry, people take notice.
That was the case in mid September when Coke — the world’s largest beverage company with a market cap north of $211 billion — said it was keeping an eye on cannabis infused drinks, with a particular focus on beverages containing the non-psychoactive compound CBD. The announcement sent pot stocks soaring.
Coke may be on the sidelines for now, but at least one notable producer of bubbly beverages isn’t waiting around. Denver-based Molson Coors Brewing Co., one of the largest beer makers in the world, launched a joint venture this summer with a Canadian cannabis company with the aim to create alcohol-free, infused drinks.
Bad news for Coors Banquet lovers who also enjoy cannabis: Molson Coors doesn’t plan to launch a similar venture in the states. Pot’s federal designation as an illegal drug in the U.S. is why.
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